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

323 points · 221 comments · saimiam

  1. BennyBallTC · · 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 · · 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. reticulates · · focus · HN ↗
        this is such a funny comment, we are so tech-pilled that we forgot companies traditionally pay dividends and that’s the reason to invest, to share in the profits, not to speculate
        1. fhdkweig · · focus · HN ↗
          Interestingly enough, Berkshire Hathaway is famous for never paying dividends (except once, I think), and instead use the income to speculate on buying new companies. <a href="https:&#x2F;&#x2F;www.fool.com&#x2F;investing&#x2F;2026&#x2F;09&#x2F;12&#x2F;berkshire-hathaway-has-paid-exactly-1-dividend&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.fool.com&#x2F;investing&#x2F;2026&#x2F;09&#x2F;12&#x2F;berkshire-hathaway...
          1. 15155 · · focus · HN ↗
            Buybacks are dividends by another name.
            1. skybrian · · focus · HN ↗
              But in that case, you do have to sell to get any cash out, so &quot;never selling&quot; is similar to reinvesting dividends.
              1. 15155 · · focus · HN ↗
                Why would I want someone creating taxable events for me? Under the current tax regime, buybacks are vastly superior.
                1. intuitionist · · focus · HN ↗
                  As long as you have an accurate sense of the intrinsic value of your shares at any given time; there is a price at which buybacks destroy more value for continuing shareholders than they would lose to taxes on dividends.
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