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OstiumAxioma : What does just 3 points mean...
0MATRIX0 OP OstiumAxioma : just mumbling. I mean I don't see the reason market need to react this way just because he's retiring.
OstiumAxioma 0MATRIX0 OP : It's just a normal pullback for taking profits.
10baggerbamm : Warren Buffett is in the sunset of his years. if you listen to last year's report to shareholders he told everybody he's not going to be around forever and he's making plans. so this should be no surprise what transpired over the weekend.
what also is important to understand is there will never be another Warren Buffett and it makes no difference who he appoints to the CEO and the standards that his predecessors operate by and have been trained their performance going forwards will never equal what Warren buffett's performance was.
you absolutely will have a gradual decay year-over-year with regard to performance. all one needs to do is go back to the 1980s and look at the flagship mutual fund from Fidelity called Magellan it was run by one of the greatest money managers of that era his name was Peter Lynch. Peter Lynch shared a very similar philosophy to Warren Buffett in terms of how he e looked at companies. Peter Lynch's performance under Fidelity Magellan trounced the indexes and other actively managed mutual funds. once Peter Lynch announced his retirement Fidelity went out of their way to praise the new money manager They promoted his accolades and his historical track records and the end result is gradually over time as the positions were unwound in Magellan the returns lagged dramatically. this is what's going to happen with Berkshire Hathaway as time goes by and I'm not talking weeks but quarters the ability to add positions at the right time reduce holdings at the right time will gradually and cumulatively result in a lower Total return for Berkshire Hathaway. it's a changing of the guard and they'll never be another Warren Buffett so despite the fact that he still will have a role within Berkshire Hathaway there's going to be a time in the not too distant future or he's no longer around and those are his words and quite frankly in my opinion that's the point where you've got about a year to make a determination when you want to sell because it will go from becoming a market out performer to a market performer to a market underperformer.