Spare Us, Warren Buffett

Posted on June 8, 2018 by Felix

The Sage of Omaha’s plea for companies to scrap quarterly earnings estimates is balderdash with a side of hypocrisy.

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One Response to Spare Us, Warren Buffett

  1. Peter Varhol says:
    June 17, 2018 at 12:13 am

    I think up until about 10 years ago Buffett was what he claimed to be – an ethical, value-focused long term investor. It seems that about 10 years ago he thought, “Screw this, I’m going to take everything I can get.” I don’t know why, but his investing behavior seems to have changed radically around that time.

    Exhibit A, of course, is Wells Fargo. He has done everything he could possibly do to talk up the stock, and ethical investing be damned. “This is the best bank in America.” “This is a great institution that made one mistake.” “They haven’t done anything every other bank hasn’t done.” “By cleaning up their act, they will lead performance in the future.”

    I get physically sick just reading his lies and excuses about Wells Fargo. I just can’t believe that he is destroying a life reputation by making up defenses of Wells Fargo. But I think it says a lot about who he is now.

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