"Instead he donated billions to charity and has pledged to give away 99% of his net worth. I say good for him."

A lot of those who hate Buffett, purposely ignore this fact. Ironically, a lot of them are also pro-crypto and hate him because of his negative comments about it, but I wonder how they feel now - after crypto's massive fall lately? LOL

LOL, cherry picked old news. By the way - what's the score now? ;)

I like Buffett. He is old school as am I.

If it is a legal loophole, it is not cheating. Like they teach in law school, there is NO such thing as right and wrong. There is only legal and illegal. Kinda 'slains the (lack of) moral code in that profession, don't it?

Same as all the other "massive falls". Wait that's not true. Some of the others have been 80 or 90% falls.

So this one is not so bad. So far.

Unlike stocks in companies that actually produce something, or have tangible assets, crypto is nothing more than a pyramid/Ponzi scheme that is basically unregulated at the moment. Once the suckers at the bottom become spooked and regulation moves in - the whole thing falls down. It's happening now.

Bitcoin probably has some major moves to the upside left in it. The crypto whales still have the same manipulative tricks up their sleeves and there will probably be another wave of hedge funds and billionaires who will dive in for the first time because of FOMO. But the recovery from 80% pull backs that so many talk about happened when the market cap was much lower so it took far less inflow of new money to make that happen. The higher it goes the more greater fool money it will take to keep it thriving as so many early adopters are cashing in while they can.

Also if you look at the major moves they were when PayPal became brokers, derivative markets entered the fray and when the bitcoin ETF was created. The only catalyst you have left that I can think of is if governments start to pile in like El Salvador did.

I still believe that Tether will be its downfall once it has been exposed or a superior crypto becomes widely adopted. Also there are many major institutions and corporations who piled in late have to report why their investments dropped 30 to 40% in one or two quarters that will not repeat that mistake.

Agree. :bigbow:

Very interesting man. Really enjoyed reading his book. Brilliant investor who has done very well by his stockholders

I'm not pro or anti buffett but you've gotta admit he's done pretty well when the US money printing press is rolling. The government can't just print more bitcoin when things get tight. I think a lot of people would like a currency that the government can't mess with. But, on the other hand, if you made bazillions of freshly created dollars by "helping" the government....you might just be anti crypto.

Joe

You make some good points but there are more catalysts ahead. There is no real Bitcoin ETF. Yet. It will get approved eventually and when it does even people like the luddites in this thread will jump in. There is also scarcity. Only 2 mil more will be mined. Another halfing coming up in 2 years. Those have been catalysts in the past.

There will also be headline upside when cash rich companies like Apple + Google announce they're carrying BTC on their balance sheets. That is coming.

It's still early days as far as main stream adoption goes. When every 401K has the option to buy BTC then we'll be near full adoption. By then we'll be trading a fixed asset with minimal new coins available.

With BTC still standing pretty strong while many many crap coins tanked completely that is just one more argument for BTC as the singular mainstream crypto asset.

The ponzi scheme analogies are pretty funny. Especially coming from people watching their Fiat currencies shrink in front of their eyes.

Repeating for emphasis!

Joe

Yes, let's all follow Buffets example. Give all our money to causes we believe in, leaving next to nothing for taxes. All while scolding everyone else to pay their fair share of taxes.

The govt would collapse but so what. We'd feel good about ourselves for giving so much money away. And sycophants would worship us. That's all that matters, right?

No one likes a hypocrite. Especially a sanctimonious one.

Buffet was being interviewed on CNBC years back. You've all see these interviews where Buffet holds court explaining how he's so much smarter than everyone else. The topic turned to politics and Buffet jumped in with an example of how he judges politicians. According to Buffet he asks them to give him examples of positions they've taken that hurt them politically but they stuck by anyway because it was the right thing to do. Of course if the Pol couldn't come up with an example, Buffet dismissed him/her as unworthy of his support.

As Buffet sat there glowing with moral superiority, Becky Quick hit him with a followup: So what did Hillary Clinton say when you asked her that? (Hillary was running for President at the time and Buffet was a big supporter)

A great question.

Buffet started stammering and stuttering so bad I thought they were going to have to call an EMT. Turns out he never asked Hillary that question because he didn't want to put her on the spot.

All this Buffet worship is nauseating.

As an investing guru he has done an incredible job for his stockholders.

"As an investing guru he has done an incredible job for his stockholders."

And a lot of the hatred toward him, is because he has done it through smart, steady diversification for decades, versus the selfish "wanna get rich quick" schemers. Right now, as they watch their pyramid/Ponzi scheme take massive hits (with most likely more to come) - they really hate him. lol