Thread

Warren Buffett Steps Down as Berkshire Chairman, Names Son to Replace Him

323 points · 221 comments · saimiam

BennyBallTC · 1789734078 · focus · HN ↗
Many people do not know this but he still holds the stock that he first bought as a 13y old. It is now worth 8+ figures!
1. ricardobayes · 1789734892 · focus · HN ↗
  Maybe someone can enlighten me, but what's the point of "never selling"? Stocks are not a collectible that you can just look at for fun. Their whole point is to sell for profit, at some time. Maybe it's just me but if you "never cash out", that seems a waste of capital. Or perhaps this is a marketing stunt wealthy people sometimes to? Akin to "I live in a small house".
  1. detourdog · 1789736447 · focus · HN ↗
    If it pays a dividend there is income. Buy and hold is a very common approach to investing. Overtime the cost basis of a good stock will decrease. Some could be sold to invest in other things.
    Buy and hold is a hedge against inflation as good if goods increases the the stock reflects the relative expansion of the money supply.

Unofficial Hacker News client; not affiliated with Y Combinator.