(For one reason, earnings, unlike book value, don't include unrealized gains and losses, which are integral to the well-being of insurance companies). And so it was that Berkshire stock made a 23.4% leap last year, which was close to double the S&P 500's gain of 12%. That calculation is relevant because Buffett has said for years that he would happily repurchase Berkshire stock at 120% of book. Said the relative, in explanation, "Warren, it isn't how you sell 'em, it's how you tell 'em."In the remaining, more traditional part, of the shareholder letter, Buffett copes with "tell 'em" challenges of his own. This year, consequently, he opened his letter in the usual way, reporting on book value per share.
as mentioned in
Warren Buffett deepened his critique of money managers and investment consultants, saying the rich are going to continue to get fleeced by Wall Street fees and that the system has wasted $100 billion over the last decade. "In his early years, Jack was frequently mocked by the investment-management industry," Buffett wrote. In 2016, passive strategies attracted $504.8 billion in new money, while active managers saw $340.1 billion in redemptions, according to data from Morningstar Inc. Buffett lauded Jack Bogle, founder of Vanguard Group and a pioneer of indexing, in his letter Saturday. He said that Wall Street salesmanship masked poor returns for years and that investors would often do better in index funds, which have lower costs and passively track markets.
read more visit us Markets
collected by :Jack Luxor
as mentioned in
Warren Buffett deepened his critique of money managers and investment consultants, saying the rich are going to continue to get fleeced by Wall Street fees and that the system has wasted $100 billion over the last decade. "In his early years, Jack was frequently mocked by the investment-management industry," Buffett wrote. In 2016, passive strategies attracted $504.8 billion in new money, while active managers saw $340.1 billion in redemptions, according to data from Morningstar Inc. Buffett lauded Jack Bogle, founder of Vanguard Group and a pioneer of indexing, in his letter Saturday. He said that Wall Street salesmanship masked poor returns for years and that investors would often do better in index funds, which have lower costs and passively track markets.
read more visit us Markets
collected by :Jack Luxor
Comments
Post a Comment