No, I’m not referring to Yellen again. I am referring to The New York Times. Let me explain…….
Since I attempt not to irk my readers overly frequently, I’ve learned to avoid the Warren Buffett topic in general. I last mentioned him a couple of months ago, and as usual, a chorus of Uncle Warren Is Awesome folks jumped up and down. Even with my usual preface about what a gee-whiz swell guy he is, from the banjo-pickin’ to the homespun wisdom, daring to question the So What of Omaha gets me into trouble.
But I was amused yesterday to see in the Times the following, which I captured with my trusty iPhone:
The general point of the article is that, ever since 2009, Buffett has been underperforming the market. Intuitively, that makes sense. He’s got this gargantuan behemoth, and it’s not exactly going to be roaring higher anymore. But it still amazes me that whenever he does his annual meeting, people want to commit suicide over the excitement over whatever he’s going to say. He’s sort of like Peter Lynch: he had an astonishing success years ago, and he deserves our respect for that past success. But, c’mon, there need to be limits.