“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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Replying to @davidgshort
WEB? I think that was just buffetts polite way of saying he didn't want to deal with investors. His record after 69 was amazing. Am I getting your question?
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Replying to @Molson_Hart
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?
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Replying to @davidgshort
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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Replying to @Molson_Hart
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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