“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?
-
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 …
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.
