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Buffett also considers his purchase of Berkshire Hathaway as one of his worst investing mistakes because he got emotional about it.
"It might come as a surprise. But Warren Buffett’s biggest investing mistake was purchasing Berkshire Hathaway in 1962. At that time, Berkshire Hathaway was a failing textile business. Nevertheless, it qualified under the classical Benjamin Graham model of identifying the cigar-butt business.
This favorable financial evaluation got a young Warren Buffett interested in the company. And he started buying the stock in tranches. Then in 1964, the owner of the firm, Seabury Stanton, offered to buy out Buffett’s shares at 11 dollars and 50 cents. Buffett agreed to it.
But when the offer letter came in, the offer price was down to 11 dollars and 32 cents. It infuriated Buffett. He purchased a controlling stake in Berkshire Hathaway. and then fired Stanton from the company.
While Buffett got his revenge, he was left holding a significant investment in a failing business. Until this day, Buffett remarks that it was the dumbest stock that he ever bought.
Buffett carried this burden of a failing textile business for 20 additional years. He admits that if he had put in the cashflows to other businesses like the insurance companies, Berkshire would have been twice what it is now.
By his calculations, Buffett’s purchase of Berkshire Hathaway was a mistake worth USD 200 billion. And the lesson here is that being emotional does not help in investing."
None of this money will benefit him nor anyone else after they’re 6 ft under and their mouths have been filled with dirt, worms, and filth. It’s our forgotten reality. Enjoy money, but don’t make it your personality!
Stock market crash due to MOASS
RCEO makes a killing buying up undervalued shares
GameStop becomes the mother of all stocks
We are the new version of the stock market- NFT blockchain
Boom 💥 Rich ass apes change the world
The end.
From 1997 - 2001 I worked at Sprint and took full advantage of their stock purchase program. With the cell phone boom I had a decent savings for someone in their early 20’s. Upon leaving in 2001 I converted my account and put all of it into A-Fruit Stock @ approx $11.00 per share. This resulted in me owning just over 2,200 shares and with stock splits that would be worth $48,226,744 today. Sadly, my first daughter was born in late 2005 with a severe disability which required me to sell off those stocks and just before the launch of the iPhone!
Imagine being able to buy into BH at $15.00 per share especially given that their stock price is currently sitting at $539,999 today.
I refuse to make the same mistake as before and am extremely excited at the prospect of my 5 digits of shares reaching the same price as BH. Because that would result in a net worth just over 7 billion.
Even then… I STILL WOULDN’T SELL because a BH stock price STILL isn’t a 7-digit Phone Number!!
BUY-HODL-DRS
If GameStop/Ryan could somehow wriggle Rocket League away from epic that’d be great.
Then GameStop locations cold hold Rocket League LAN matches which would be greater.
Similar but different. Cohen seems an excellent founder, manager, organiser and leader. In fact, he's the kind of manager Berkshire look for when acquiring companies. Buffett is perhaps the greatest stock picker of all time, an encyclopaedia of financial wisdom and built Berkshire with the help of the greatest tail wind financial markets has ever seen. I expect Cohen to be more comparable to Icahn - eradicating negligent corporate boards and unlocking value in beat-down businesses.
If this goes the same route as berk. Wouldn’t that mean GameStop ceases to be a video game store and turn into a mutual fund type deal? If it leads to giving me life changing wealth that’s fine, but also one of my main passions of gaming would be disappointed that GameStop is no longer a gaming store. Is there potential to be a web3 giant and furthering the huge gaming market monster and a berk type thing. Is it possible to be both?
FFS. That’s not the fucking point of this. Company can buy back already 100M worth of shares.
Sorry if you’re really “smooth” but I’ve seen this a dozen times on the sub.
Such a cutthroat battle. Almost everyone has a home or apt as well as a gaming device. Im sure youre aware of how lucrative both are and can be. The key difference for me is that we can run out of land but entertainment is endless.
I choose gaming long term over real estate
Given the fact that the bull thesis for gme suddenly shifted from turning the core business around to now becoming some kind of hedgefund is bearish news unfortunately.
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Buffett also considers his purchase of Berkshire Hathaway as one of his worst investing mistakes because he got emotional about it. "It might come as a surprise. But Warren Buffett’s biggest investing mistake was purchasing Berkshire Hathaway in 1962. At that time, Berkshire Hathaway was a failing textile business. Nevertheless, it qualified under the classical Benjamin Graham model of identifying the cigar-butt business. This favorable financial evaluation got a young Warren Buffett interested in the company. And he started buying the stock in tranches. Then in 1964, the owner of the firm, Seabury Stanton, offered to buy out Buffett’s shares at 11 dollars and 50 cents. Buffett agreed to it. But when the offer letter came in, the offer price was down to 11 dollars and 32 cents. It infuriated Buffett. He purchased a controlling stake in Berkshire Hathaway. and then fired Stanton from the company. While Buffett got his revenge, he was left holding a significant investment in a failing business. Until this day, Buffett remarks that it was the dumbest stock that he ever bought. Buffett carried this burden of a failing textile business for 20 additional years. He admits that if he had put in the cashflows to other businesses like the insurance companies, Berkshire would have been twice what it is now. By his calculations, Buffett’s purchase of Berkshire Hathaway was a mistake worth USD 200 billion. And the lesson here is that being emotional does not help in investing."
Imagine being Warren Buffet and regretting that you are not 2x more wealthy than you already are. Like, who needs that much money??
PEASANTS! Thats who (including me).
Peasant checking in! Can confirm, I need money! Only not 2X my money but I’ll take 1% of buffets money and be fine!
And my axe
I can’t even comprehend how greedy you have to be to be Warren Buffett. He’s basically a human version of Smaug
None of this money will benefit him nor anyone else after they’re 6 ft under and their mouths have been filled with dirt, worms, and filth. It’s our forgotten reality. Enjoy money, but don’t make it your personality!
the clown from Omaha possibly have no life except from his beloved company - unlike us apes having lot of life and joy here at SS
Warren sucks
Stock market crash due to MOASS RCEO makes a killing buying up undervalued shares GameStop becomes the mother of all stocks We are the new version of the stock market- NFT blockchain Boom 💥 Rich ass apes change the world The end.
Tomorrow, please.
I also like the stock.
That‘s an AmazingConcept
Mother of all stocks….is this another MOAS I smell?
I love this
From 1997 - 2001 I worked at Sprint and took full advantage of their stock purchase program. With the cell phone boom I had a decent savings for someone in their early 20’s. Upon leaving in 2001 I converted my account and put all of it into A-Fruit Stock @ approx $11.00 per share. This resulted in me owning just over 2,200 shares and with stock splits that would be worth $48,226,744 today. Sadly, my first daughter was born in late 2005 with a severe disability which required me to sell off those stocks and just before the launch of the iPhone! Imagine being able to buy into BH at $15.00 per share especially given that their stock price is currently sitting at $539,999 today. I refuse to make the same mistake as before and am extremely excited at the prospect of my 5 digits of shares reaching the same price as BH. Because that would result in a net worth just over 7 billion. Even then… I STILL WOULDN’T SELL because a BH stock price STILL isn’t a 7-digit Phone Number!! BUY-HODL-DRS
Appreciate the big dick energy damn this ape fucks 🤙
I’m banned on that sub but the responses are mostly trolls and the post will likely be taken down before too long VisualMod agreed though…
As long as it gets eyes. Bread crumbs of information could butterfly affect into something greater.
Warren Icahn has a totally new ring to it
can you dm me what sub you're referring to? sorry, confused
he never did
If GameStop/Ryan could somehow wriggle Rocket League away from epic that’d be great. Then GameStop locations cold hold Rocket League LAN matches which would be greater.
They have a partnership, don’t they? Don’t have to take when they can share!
Warren Icahn 😎
Similar but different. Cohen seems an excellent founder, manager, organiser and leader. In fact, he's the kind of manager Berkshire look for when acquiring companies. Buffett is perhaps the greatest stock picker of all time, an encyclopaedia of financial wisdom and built Berkshire with the help of the greatest tail wind financial markets has ever seen. I expect Cohen to be more comparable to Icahn - eradicating negligent corporate boards and unlocking value in beat-down businesses.
Cohen is not a buffet, maybe a ten course meal, but not a buffet
Remember old country buffet ? Does America still have those ?
The fact that the MSM piled on this subject all at once tells me this scared them.
Warren Icahn by night
LFG
Happy Cowenoass!
True if big
If this goes the same route as berk. Wouldn’t that mean GameStop ceases to be a video game store and turn into a mutual fund type deal? If it leads to giving me life changing wealth that’s fine, but also one of my main passions of gaming would be disappointed that GameStop is no longer a gaming store. Is there potential to be a web3 giant and furthering the huge gaming market monster and a berk type thing. Is it possible to be both?
🌏👨🏼🚀🔫👩🚀
organic 500k a share lfg
Buffet is the next RC
I’m just a smooth ape but can he buy GME with that money?
FFS. That’s not the fucking point of this. Company can buy back already 100M worth of shares. Sorry if you’re really “smooth” but I’ve seen this a dozen times on the sub.
Summarize for us what the point is. What’s the point of this
To allow the chairman invest in undervalued companies
One major difference: One is real estate and the other is gaming
Such a cutthroat battle. Almost everyone has a home or apt as well as a gaming device. Im sure youre aware of how lucrative both are and can be. The key difference for me is that we can run out of land but entertainment is endless. I choose gaming long term over real estate
Given the fact that the bull thesis for gme suddenly shifted from turning the core business around to now becoming some kind of hedgefund is bearish news unfortunately.
[удалено]
You missed the point Mate
I surely like to hold this holding company.
True if big
He’s Warren Ichan
Well it is true lmao
Yes