“I am not attuned to this environment, and I don’t want to spoil a decent record by trying to play a game I don’t understand just so I can go out a hero.” - Warren Buffett. Do you think he would still close up shop due to uncertainty? If so, would he ever appoint a successor?
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Fair enough, I was taking him at his word then, and saying if he still believed that, he would unwind Berkshire and pay out a dividend instead of the uncertainty of handing over control to a successor. Do you think Hinkie is also lying politely about his reasons for departure?
To your point, maybe I'm wrong. I remember now that his fund had a hurdle rate. This article goes into how that could've incentivized him to shut down. I am a bad reader. What did Hinkie even state as his reason for quitting in the letter? https://www.fwallstreet.com/article/169-hedge-funds-and-the-early-buffett-partnership …
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I think Hinkie just resigned because there was league pressure to demote him. While he had broke the system in favor of the 76ers future, he had also broken the league. The 76ers attendance was really low and it did not make for a good product.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Basically because of the Buffett quote: “Given all the changes to our organization, I no longer have the confidence that I can make good decisions on behalf of investors in the Sixers—you. So I should step down. And I have.”
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Ah, makes sense and I see the parallels now. Did you listen to the podcast? It's good!
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