Re: Whats the point of investing when Buffett will do it for you?
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Because Warren Buffett is 75 years old and won't be running the company for much longer than the near-term, maybe the next 5-7 years. When he gets seriously sick, dies or retires, whichever comes first, the stock will get hit with a minimum of a 20-30% drop in the next trading day.
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Buffett joked a couple of years ago that every year since 1970 someone has asked about what would happen if he got hit by a truck. He said he would step down if that question ever changed to what would happen if he DIDNT get hit by a truck.
He has already chosen his successor, who will be responsible for managing his billions of bequeathed wealth on behalf of his charitable foundation and his wife. He wont name him (I seriously doubt its a female). I think the succession issue has been one of the biggest over the last decade, and that its well in hand. I very much doubt that this stock will drop significantly for a prolonged period after his death simply because its share price hasnt risen because of his legend, but because of his performance.
You can be sure he has trained his successor like Ben Graham trained him, and thats good enough for me.
Bingo
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