On a spring day in 1964, Warren Buffett received a letter from Seabury Stanton offering to purchase the Buffett Partnership’s stake in Berkshire Hathaway. Buffett and Stanton had agreed to a price of $11.50 but Stanton’s letter offered only $11.375. This annoyed the thirty-three year old Buffett and he started buying more shares starting his long journey of transforming Berkshire Hathaway into what it is today.
As an investor, are you making rational decisions when it comes to taxes?
Everyone obviously likes to think that they are rational, but it is quite likely that tax considerations have hurt your results over time. However, hindsight bias and a human tendency to remember triumphs while relegating errors to the deep recesses of memory makes it likely that we have forgotten cases where tax considerations hurt us.
“The market is like a large movie theater with a small door.” — Nassim Nicholas Taleb, Skin in the Game There is an old saying that experiencing a bull market is similar to riding up an escalator while living through
Financial markets have finally come to the realization that Coronavirus is a story that is not going away anytime soon. As long as the virus was confined mostly to China and other cases could be readily explained, markets in the
Warren Buffett has been a newshound all his life. He is known to read five newspapers a day including the Wall Street Journal, The New York Times, USA Today, The Financial Times, and the Omaha World-Herald. His affinity for handling