/biz/ - Business and Finance

>The Investor acknowledges that it has had an opportunity to conduct such review and analysis of the business, assets, condition, operations and prospects of the Company and its subsidiaries, including an opportunity to ask such questions of management (for which it has received such answers) and to review such information maintained by the Company, in each case as the Investor considers sufficient for the purpose of making the Purchase. The Investor further acknowledges that it has had such an opportunity to consult with its own counsel, financial and tax advisers and other professional advisers as it believes is sufficient for purposes of the Purchase. For purposes of this Agreement, the term “Transaction Documents” refers collectively to this Agreement, the Warrant and the Registration Rights Agreement, in each case, as amended, modified or supplemented from time to time in accordance with their respective terms.

So Buffett claims he did his due diligence and was able to determine this was a wise investment within 24 hours. Really? REALLY?

What it looks like to me is that the president's buddy invested in a failing bank knowing full well that the president intends to push for a settlement within BofA's expected range. Really, they can't let BofA fail. It would destroy the financial system. So what does Uncle Warren do? Goes to BofA with an offer they can't refuse. Really. They couldn't. They needed the money.

My point is that when I know about this and see headlines on Reddit about how Buffett talks about how he should pay more taxes, it makes me think he's nothing more than a crony capitalist who espouses populist ideas to distract people from the fact that he's profiting off of what amounts to a bailout at the expense of the American taxpayer.

He claims to believe he should pay more in taxes yet I've never once heard it said he voluntarily pays anything more than his lawful obligation. Sure, he's planning on giving his fortune away to charity, but he's building it on the backs of people working and trying to survive right this moment. My impression of him is that he's a panderer who uses his rhetoric and reputation to hide his dirty dealings.

If Buffet were really interested in what ails this country, he would write an op-ed about regulatory and tax structure benefiting large multinationals at the expense of small business, money in politics and corporate personhood. He doesn't because he benefits from it.

The Koch brothers are a popular target of hate on Reddit, but I wonder if that's really warranted. They have built a fortune by building businesses. They have created jobs, unlike Buffett and Soros. They are captains of industry.

What they fight for politically is smaller government, not sweetheart deals on the backs of taxpayers. They want no government intervention in markets, be it in their favor or anyone else's. They seem to be true free market capitalists, not crony capitalists.

I disagree with them more often than not, but I know of no reason to believe that they are advocating for a standard of corporate socialism, something Buffett, Soros and Obama all seem to believe in. The Koch brothers seem ideologically consistent. They also seem to really hate bankers and their money-making schemes which benefit no one but themselves.

>>523

There's a big difference between Soros and Buffett. Soros is a scumbag who uses his money to fund shitty SJWs who in turn result in us ordinary Joes not having nice things.

Buffett is obviously no angel (what rich person is?) but at least he wrote very informative books and essays that help the average person get into investing in the first place. If you think he's ripping someone off, it's not hard for you to get in on the action. His trading company, Berkshire-Hathaway, is public, and its share price has went up 600% since 1996 (meanwhile SP500 went up "only" 200%). It's PE is currently 17, while SP500 is 20, and I doubt this undervaluation is because Buffett is an incompetent manager.

You could also read the copious available literature and learn his techniques for yourself, they're not exactly secret, and haven't been for half a century.

>I've never once heard it said he voluntarily pays anything more than his lawful obligation

Because that would be stupid. When he says "I should pay more taxes" he doesn't mean himself personally. He means wealthy investors like himself. It's not like his problem is that he has too much money and can't get rid of it. He's saying the lawful obligation should be increased. It's supposed to be him saying, "look, it's not just lazy leeching parasites that want to tax the rich, intelligent people think it's a good idea too even though it would reduce their own income".

>a panderer who uses his rhetoric and reputation to hide his dirty dealings.

There's nothing to hide. He doesn't do anything illegal. He just likes to comment on the economy. There are tons of big players in the market who do all sorts of shady stuff, and none of them try to "hide it with rhetoric and reputation" - you don't have to. Unless you blatantly break the law, the masses can never touch you anyway.

>If Buffet were really interested

He isn't really interested, if he was he would run for office or work in the government. He's just casually interested and gives his casual opinion because people like to hear it.

>The Koch brothers are a popular target of hate on Reddit

It's not hard to be hated or loved on reddit. Just appear on the news as supporting either right wing or left wing views, respectively. Actual qualifications (and often even ideologies you supported more than a few years in the past) are irrelevant.

>people are bad because they do what is legal and in their best interest

It's called capitalism. Deal with it. If I had that much money I would do just the same.