{"id":422185,"date":"2022-03-26T22:39:00","date_gmt":"2022-03-26T19:39:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/brett-arendss-roi-how-washed-upold-man-warren-buffett-is-getting-the-last-laugh\/"},"modified":"2022-03-26T22:39:00","modified_gmt":"2022-03-26T19:39:00","slug":"brett-arendss-roi-how-washed-upold-man-warren-buffett-is-getting-the-last-laugh","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/brett-arendss-roi-how-washed-upold-man-warren-buffett-is-getting-the-last-laugh\/","title":{"rendered":"#Brett Arends&#039;s ROI: How \u2018washed up\u2026old man\u2019 Warren Buffett is getting the last laugh"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4063596b629\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4063596b629\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/brett-arendss-roi-how-washed-upold-man-warren-buffett-is-getting-the-last-laugh\/#%E2%80%9CBrett_Arendss_ROI_How_%E2%80%98washed_up%E2%80%A6old_man_Warren_Buffett_is_getting_the_last_laugh%E2%80%9D\" >&#8220;Brett Arends&#039;s ROI: How \u2018washed up\u2026old man\u2019 Warren Buffett is getting the last laugh&#8221;<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/brett-arendss-roi-how-washed-upold-man-warren-buffett-is-getting-the-last-laugh\/#Brett_Arends\" >Brett Arends<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBrett_Arendss_ROI_How_%E2%80%98washed_up%E2%80%A6old_man_Warren_Buffett_is_getting_the_last_laugh%E2%80%9D\"><\/span>&#8220;Brett Arends&#039;s ROI: How \u2018washed up\u2026old man\u2019 Warren Buffett is getting the last laugh&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000718001\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000718001\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Poor old Warren Buffett.<\/p>\n<p> Poor,\u00a0<em>old<\/em>, \u201cwashed up\u201d Warren Buffett!<\/p>\n<p>It\u2019s almost two years since the Berkshire Hathaway chairman, then 89, was publicly mocked by\u00a040-something\u00a0self-proclaimed\u00a0stock market \u201ccaptain\u201d and \u201cwinner,\u201d Barstool Sports founder David Portnoy.\u00a0<\/p>\n<div class=\"paywall\">\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetTweet\n            inline\n    scope-web|mobileapps\n  article__inset\n          article__inset--type-InsetTweet\n            article__inset--inline\n  \"><\/p>\n<div class=\"dynamic-inset-container article__inset__dynamic\">\n<style>\n            iframe.twitter-tweet {\n                width: 100% !important;\n            }\n        <\/style>\n<blockquote class=\"twitter-tweet\" lang=\"en\"><p>\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/stoolpresidente\/status\/1270084893691842566?s=20&amp;t=B3irCEU_CPYDgxuILKrYdw\"><\/a>\n            <\/p><\/blockquote>\n<p>        <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p><\/div>\n<\/p><\/div>\n<p>       \u201cHe\u2019s old, he\u2019s washed up,\u201d Portnoy said about Buffett. \u201cHe\u2019s an old man, his time passed him by.\u201d <\/p>\n<p>\u201cI\u2019m better that he is. It\u2019s no debate. I killed him. He\u2019s dead. He\u2019s dead,\u201d Portnoy <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/stoolpresidente\/status\/1270350291653791747?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1270350291653791747%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fwarren-buffett-is-an-idiot-says-investor-who-claims-daytrading-is-the-easiest-game-ive-ever-played-2020-06-09\" class=\"icon none\">said<\/a>.<\/p>\n<p>\u201cI\u2019m just printing money,\u201d Portnoy said. \u201cWhy take profits when every airline goes up 20% everyday. Losers take profits. Winners push the chips to the middle. I should be up a billion dollars.\u201d<\/p>\n<p>He added: \u201cThere\u2019s nobody who can argue that Warren Buffett is better at the stock market than I am right now. I\u2019m better than he is. That\u2019s a fact.\u201d<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetTweet\n            inline\n    scope-web|mobileapps\n  article__inset\n          article__inset--type-InsetTweet\n            article__inset--inline\n  \"><\/p>\n<div class=\"dynamic-inset-container article__inset__dynamic\">\n<style>\n            iframe.twitter-tweet {\n                width: 100% !important;\n            }\n        <\/style>\n<blockquote class=\"twitter-tweet\" lang=\"en\"><p>\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/stoolpresidente\/status\/1270350291653791747?s=20&amp;t=nlO6EoPmgtlrKFPXwz0ixg\"><\/a>\n            <\/p><\/blockquote>\n<p>        <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p><\/div>\n<\/p><\/div>\n<p>       Booyah!<\/p>\n<p>I was thinking of Portnoy\u2019s comment recently,\u00a0after stock in Buffett\u2019s conglomerate Berkshire Hathaway zoomed past $500,000\u00a0a share\u00a0for the first time in history.<\/p>\n<p>In the 21 months since Portnoy\u2019s tweet, Berkshire Hathaway<br \/>\n        BRK.A,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208872451\/composite\" class=\"positive\">+1.92%<\/bg-quote><br \/>\n       stock has rocketed by 75%, beating the S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+0.51%<\/bg-quote><br \/>\n       by a clear 30 percentage\u00a0points\u00a0(all this year) and the riskier small cap Russell 2000<br \/>\n        RUT,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598147\/delayed\" class=\"positive\">+0.12%<\/bg-quote><br \/>\n       by 40 points. We attempted to contact Portnoy and his company for comment but were not able to reach him.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Maybe more to the point, simple math shows that Buffett, now 91, has personally made more money since Portnoy\u2019s tweet than at any other time in his career. His net worth is up a staggering $56 billion since then, has broken $100 billion for the first time, and is at the time of this writing up to $126 billion.<\/p>\n<p>Not bad for someone\u00a0who just\u00a0announced another megadeal, one of his biggest ever.<\/p>\n<p>Celebrity Net Worth <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.celebritynetworth.com\/richest-politicians\/presidents\/david-portnoy-net-worth\/\" class=\"icon none\">estimates<\/a> Portnoy\u2019s fortune at $80 million.<\/p>\n<p>Poor old Warren! Wow, did his time pass him by!<\/p>\n<p>There\u2019s a simple lesson for all investors in this, and it\u2019s about the value of compound interest once we are in the third stage of life.<\/p>\n<p>One of the reasons Buffett has been making by far the most money of his career in the past couple of years is because by this stage his accumulated stake is so large. So a 35% gain today will make him far more money in actual dollar terms than a 50% or even 100% gain would have done in the past. Such are the benefits of saving early and often.<\/p>\n<p>Meanwhile, it has been an almost infallible rule during my career as a financial journalist that you should just go out and buy stock in Berkshire Hathaway whenever people start to say that Buffett has passed his prime.<\/p>\n<p>I remember hearing much the same in early 2000, during the last dot-com bubble, when \u201cold economy\u201d Berkshire stock had nearly halved to around $40,000.<\/p>\n<p>And they were saying much the same in the fall of 2008, during the global financial crisis, when Buffett urged people to buy stocks and various people said he\u2019d lost it.<\/p>\n<p>(Oh, and one of the many reasons why you should never, ever, ever take my advice is that I am so stupid I was willing to sell my Berkshire Hathaway stock \u2014 along with my Amazon<br \/>\n        AMZN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210331248\/composite\" class=\"positive\">+0.69%<\/bg-quote><br \/>\n       stock and Diageo<br \/>\n        DEO,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208129584\/composite\" class=\"positive\">+1.41%<\/bg-quote><br \/>\n       stock \u2014 in 2006 to go work for Jim Cramer at TheStreet.com. Idiot, indeed. But I loved the job.)<\/p>\n<p>Now at $529,000, Berkshire Hathaway stock looks neither especially cheap nor expensive by its own historical standards. The conglomerate, which includes GEICO insurance, See\u2019s Candies and multiple other businesses, currently trades at 1.5 times net asset or \u201cbook\u201d value, which is pretty much average for the past 2 decades.<\/p>\n<p>If any other genius traders in their 40s (or younger) think Buffett is washed up at 91, maybe we shouldn\u2019t tell them about his vice chairman and friend Charlie Munger, still going strong at\u202698.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Brett Arends\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/brett-arends\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/BrettArends\",\"text\":\"@BrettArends\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:barends@marketwatch.com\",\"text\":\"barends@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Brett_Arends\"><\/span>Brett Arends<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7AF4-B17EB97E6F84%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Brett Arends&#039;s ROI: How \u2018washed up\u2026old man\u2019 Warren Buffett is getting the last laugh&#8221; Poor old Warren Buffett. Poor,\u00a0old, \u201cwashed up\u201d Warren Buffett! It\u2019s almost two years since the Berkshire Hathaway chairman, then 89, was publicly mocked by\u00a040-something\u00a0self-proclaimed\u00a0stock market \u201ccaptain\u201d and \u201cwinner,\u201d Barstool Sports founder David Portnoy.\u00a0 \u201cHe\u2019s old, he\u2019s washed up,\u201d Portnoy said about&#8230;<\/p>\n","protected":false},"author":1,"featured_media":422186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-368937\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-422185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/422185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=422185"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/422185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/422186"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=422185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=422185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=422185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}