atans1

BKR50: Buffett doesn’t do PAP SG50 BS

In Financial competency on 04/03/2015 at 12:21 pm

But then he doesn’t face a general election. He lets this metric talk the walk: Over the last 50 years,the stock is up 1,826,163 percent.

But to be fair to the PAP, he like the PAP did better in the early yrs than in the recent past: https://atans1.wordpress.com/2015/02/24/sg50-versus-brk50/

But then he doesn’t pay himself so much and he is no hypocrite unlike Jos Teo https://atans1.wordpress.com/2015/03/04/jos-teos-double-standards-walk-the-talk-chiams/ and Gan Kim Yong (See below for Gan’s hypocrisy and double standards.

BUFFETT HINTS AT SUCCESSOR Warren E. Buffett released his annual letter to shareholders on Saturday, reflecting on his 50 years in control of Berkshire Hathaway, one of the world’s biggest companies. In his 24,000-word letter to commemorate his golden anniversary at the company, Mr. Buffett looked back on less prescient moves. He also railed against investment bankers, accusing them of being nearsighted and self-serving.

But what made perhaps the most waves in the business world over the weekend was Mr. Buffett’s hint that the board of Berkshire Hathaway hadidentified his successor as chief executive. “Both the board and I believe we now have the right person to succeed me as C.E.O. ‒ a successor ready to assume the job the day after I die or step down,” Mr. Buffett wrote. “In certain important respects, this person will do a better job than I am doing.”

Mr. Buffett did not reveal that person’s identity, but in a separate letter, Charlie Munger, the vice chairman, suggested that either Ajit Jain, an insurance executive at the company, or Greg Abel, the head of Berkshire’s energy business, was most likely to receive the job. Mr. Buffett’s son Howard will become nonexecutive chairman when his father no longer serves in that role.

The letter also detailed Berkshire Hathaway’s success. Last year, the company’s market value increased by $18.3 billion. Over the last 50 years,the stock is up 1,826,163 percent. Although Berkshire did not strike any megadeals last year, it continued to grow by making 31 smaller so-called bolt-on acquisitions that will cost a total of $7.8 billion. Mr. Buffett also reiterated Berkshire’s interest in making a deal worth $5 billion to $20 billion, but he said that many of the deals pitched were of inferior quality.

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Well Gan, what about ministerial pay monetising public service?

[I]ntroducing a direct caregiver allowance may monetise family support and filial piety, said the Minister for Heath Mr Gan Kim Yong in Parliament on Tuesday (Mar 3).

In a written response … about whether the Ministry will consider the provision of allowance to caregivers taking care of an elderly, a family member with special needs or disabilities, Mr Gan said family support and filial piety are “priceless” and should not be monetised.

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  1. Haha PAPies always pull a “filial piety” or a “self reliance” or “market forces” or “service to nation” when they want to be stingy.

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