Overlay a chart of the S & P 500 and Berkshire Hathaway since May of 2002. It looks to me as if they both follow a very similar path throughout that entire period. Why in the world Berkshire gets so much publicity seems to be a delusion of the press.
I knew a man who was once called a Wall Street "Investing Legend" by the media and a major university. Each time I examine his public investing record all I seem to find is under performance to the major averages.
Many of Berkshire's major division heads seem to be being paid millions of dollars a year to run Berkshire's various parts while Buffet publicizes that he doesn't hardly take a salary. He doesn't take a salary so I guess he doesn't pay much taxes. He doesn't pay a dividend on his shares and generally he doesn't buy back shares of his own company. Since as you've seen the performance of Berkshire mirrors the S & P, shareholders seem to get a very mediocre return. The emphasis seems to be on the maintenance of an illusion as to how rich Mr. Buffet is and how little taxes everybody else pays.
From what I can tell in the press when he dies his shares will go to a Foundation, hence there will be little taxes on his estate. From what I can tell the Foundation receiving the shares of his estate spend a substantial amount of its money on projects outside the United States.
In summary, his stock doesn't perform relatively and there seems to be lots of missing important information in the company's annual report. Additionally, Mr Buffet has figured out a method for avoiding substantial tax payments for himself while his poor little secretary goes to Congress and complains about other people's taxes.
Remember Berkshire Hathaway hasn't diverged much from the S & P performance for over a decade. Warren Buffet is a marketing genius.
I knew a man who was once called a Wall Street "Investing Legend" by the media and a major university. Each time I examine his public investing record all I seem to find is under performance to the major averages.
Many of Berkshire's major division heads seem to be being paid millions of dollars a year to run Berkshire's various parts while Buffet publicizes that he doesn't hardly take a salary. He doesn't take a salary so I guess he doesn't pay much taxes. He doesn't pay a dividend on his shares and generally he doesn't buy back shares of his own company. Since as you've seen the performance of Berkshire mirrors the S & P, shareholders seem to get a very mediocre return. The emphasis seems to be on the maintenance of an illusion as to how rich Mr. Buffet is and how little taxes everybody else pays.
From what I can tell in the press when he dies his shares will go to a Foundation, hence there will be little taxes on his estate. From what I can tell the Foundation receiving the shares of his estate spend a substantial amount of its money on projects outside the United States.
In summary, his stock doesn't perform relatively and there seems to be lots of missing important information in the company's annual report. Additionally, Mr Buffet has figured out a method for avoiding substantial tax payments for himself while his poor little secretary goes to Congress and complains about other people's taxes.
Remember Berkshire Hathaway hasn't diverged much from the S & P performance for over a decade. Warren Buffet is a marketing genius.
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