Can anyone repeat the performance of Warren Buffett?

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If Warren Buffett is to be believed, his announcement after the annual meeting of Hathaway on Saturday is that he planned to step down as an executive president at the end of the year was news of all his close family members with the exception of a few members of his family.

Neither the non -family managers, nor tens of thousands of shareholders collected on the annual “Woodstock for the capitalists” In his homeland, Omaha had a conclusion about the exact time.

Maybe they should have been done. Your business partner for a long time and Acerbic Sidekick in Omaha meetings, Charlie MongerHe died in 2023, 99 years old. In February, in its latest letter For shareholders, Pavite He wrote: “In 94, Greg abel will replace me as an executive president.”

“Pathology Specialists”, as close monitors for all his style in every step, were speculating and worried about the caliphate for at least a quarter of a century. She wrote an analysis titled “Shares who suffer in life after Buffett” after Omaha gathered in 2003, when Pavite was a 72 -year -old sector. It quoted him noticing that if he started “losing (its marble)”, it would be up to his family to persuade him to step down. “Maybe it will take an entire curse family,” he added.

The inevitability of his departure did nothing to relieve the shock. Among the most consecrated Pavite followers, it can be compared to the death of Pope Francis.

Puffett’s message to shareholders, with no directly referring to Donald Trump as president, “Uncle Sam” resumed to spend millions of tax dollars sent by Berkshire to the US Treasury: “We never forget that we need to maintain a stable currency and this result It requires (His focus) both wisdom and vigilance on your part. ”

In a time when the unusual geopolitical and economic change around the world, the same shareholders were interested in 2003: Can anyone repeat Pavit’s performance? The basic category of Berkshire “A” shares was closed on Friday at a record price of 809,808.50, an increase of 20 percent a year. When Pavite controlled what was then a textile manufacturer in 1965, the shares were worth $ 20.

With the extraction of the self that was always distinguished by his fellow executives who were scattered on themselves, Pavite attributed a lot of this success to the “ovarian lottery” that he saw born white, male, with the ability to invest and the ability to invest in a special time for American capitalism. It has almost influenced snow ball – Alice Schroeder Premier League 2008 biography – This “only happens if you are in the correct type of snow … it is better to pick up the snow while walking along, because you will not return to the top of the hill again. This is how life works.”

But this self -analysis reduces steadfast stability, perfection, concentration and thought behind its two years. For example, when he invested in Goldman Sachs, which helps to charge the investment bank during the 2008 financial crisis, he did this on very favorable conditions for Berkashire, which represents one of his best known: “We simply try to be afraid when others are greedy and only collect when others are afraid.”

This is amazing Good words It is likely to be recycled as long as there are financial markets, although we have certainly read another wonderful Messages for shareholders This is still the best, and his best book, to Pavite’s philosophy of life and investment.

However, the repetition of philosophy will be a great challenge. whatever Greg Abel’s talentsIt was chosen in 2021 to enter the largest shoes in the history of American investment, and the commitment of the Board of Directors to guard the same culture and ethics, Berkshire is no longer the smart vehicle that Pavite and Munger used to sweep the assets of companies with less than its value in the last quarter of the twentieth century. Sometimes, they even fought to find great investments enough to “transfer the needle” to their shareholders, said Pavit last year.

However, volatility has always created opportunities. This indicates that he did not actually lose its marble, leaving Bavite behind a vast and growing chest $ 348 billion. At some point, he said on Saturday, Berkshire will be bombed with offers that we will prepare to have money. ”

As the snowball stops from the Pavite, its successor has the resources to create a new one. Will they get the momentum, circumstances and skills needed to direct it as Marsi, Omaha?

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