Good comment In general, today there are many externalities that make everything even more unpredictable and my humble recognition and courage for those who risk it. In noisy times, investment is not predicting, it is the decisions that resist the error. Trade seeks movement; Investment seeks permanence. They are different games, but today they share a rare virtue: the courage to act with discretion when the market shouts otherwise.
I respect his process, but what is missing is why he left BRK. We still don’t know his investment performance, although he did a great job at reviving Geico.
My humble opinion is that he left BRK because he has no future there. How likely is it that they'll let him run BRK? I think not very likely.
I think he's more likely to run JPMorgan than BRK. So, in conclusion, I think it was a good move on his part, considering his career and his future as an investor and professional.
Certainly. Someone like Todd has the opportunity to get to know a company well, as if he were going to buy it outright. But as Aswath Damodaran would say, "the numbers tell the story."
Good comment In general, today there are many externalities that make everything even more unpredictable and my humble recognition and courage for those who risk it. In noisy times, investment is not predicting, it is the decisions that resist the error. Trade seeks movement; Investment seeks permanence. They are different games, but today they share a rare virtue: the courage to act with discretion when the market shouts otherwise.
Writing flows effortlessly, nice reading, thanks for sharing, Erza!
I respect his process, but what is missing is why he left BRK. We still don’t know his investment performance, although he did a great job at reviving Geico.
My humble opinion is that he left BRK because he has no future there. How likely is it that they'll let him run BRK? I think not very likely.
I think he's more likely to run JPMorgan than BRK. So, in conclusion, I think it was a good move on his part, considering his career and his future as an investor and professional.
Assets Hierarchy structure matters
Certainly. Someone like Todd has the opportunity to get to know a company well, as if he were going to buy it outright. But as Aswath Damodaran would say, "the numbers tell the story."