BUFFETT: There's one 'terrible mistake' long-term investors are making

25 February, 2018, 00:34 | Author: Shannon Aguilar
  • Buffett

"A large portion of our gain did not come from anything we accomplished at Berkshire", Buffett wrote.

Buffett went on to extol Berkshire's investing methods.

Be said Bershires' gain in net worth in 2017 was $65.3 billion, but $29 billion of that came from the Republican tax overhaul.

The company's often-impressive pace of acquisitions had slowed previous year, he noted, when the prices asked for businesses 'hit an all-time high, ' amid what he called 'a purchasing frenzy'.

Buffet said that a dearth of "sensible" valuations led it to close nearly no takeovers of companies in 2017, adding that "price seemed nearly irrelevant to an army of optimistic purchasers".

He also leveled criticism at what he called the "can-do" type of Wall Street CEO, who he said can be over eager to justify gobbling up another company. Van Damme is also a board member of Anheuser-Busch Inbev and Restaurant Brands International. That ended past year, and Buffett - who bet slow, steady gains by the S&P 500 would beat out hedge funds over the decade - won with flying colors.

Buffett said it is a "terrible mistake" for investors with long-term horizons - among them, pension funds, college and endowments and savings-minded individuals - to measure their investment "risk" by their portfolio's ratio of bonds to stocks.

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Buffett in 2007 bet a founder of the asset management company Protégé Partners LLC $1 million that a Vanguard S&P 500 index fund would outperform several groups of hedge funds over a decade.

Amateur investors who put their money in low-priced index funds can beat the so-called "smart money" hedge funds charging extraordinary management and performance fees.

Buffett also warned long-term investors including pension funds, college endowments and "savings-minded individuals" that even with USA stock prices near record highs, it would be a "terrible mistake" to assume bonds are safer. And he's found himself at odds with Trump on several policy issues.

Buffett declared in his 2015 annual shareholder letter that he has found the "right person", but he didn't offer any further details. Kraft Heinz Co said yesterday billionaire investor Warren Buffett has made a decision to retire from the company's board following the end of his term in April to reduce travel commitments.

Said Buffett in Saturday's annual letter: "You and I are lucky to have Ajit and Greg working for us".

"Berkshire's blood flows through their veins", Buffett wrote.


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