Warren Buffett’s Berkshire dumps most of Goldman Sachs stake

Re:Warren Buffett’s Berkshire dumps most of Goldman Sachs stake by phyalow on Saturday May 16, 2020 @07:44AM (#23202632)

Cant say I agree. I worked for various European and US IB's pre 08, then have for the better part of the last decade been a client of them. IMO GS's culture has always struck me as a lot of self anointed hubris and resembles attitudes found on /r/iamverysmart, which when viewed from the outside it makes one laugh. All US IB's these days are largely just commodity balance sheets. None of them have any tangible edge over each other in the bigger picture.

[ Parent | on HN ]

Re:Warren Buffett’s Berkshire dumps most of Goldman Sachs stake by erpellan on Saturday May 16, 2020 @08:55AM (#23203004)

I've worked with several ex-GS people, all of whom were convinced they were the smartest person in the room, none of whom were even close. Some of the 'GS do it this way' ideas were so terrible we wondered if part of Goldman's strategy was to seed their competition with them as part of a sabotage effort.

[ Parent | on HN ]

Re:Warren Buffett’s Berkshire dumps most of Goldman Sachs stake by JackFr on Saturday May 16, 2020 @09:23AM (#23203179)

I’ve made the same observation. The point is, though, if they were any good they wouldn’t be ex-GS people.

[ Parent | on HN ]

Re:Warren Buffett’s Berkshire dumps most of Goldman Sachs stake by Aeolun on Saturday May 16, 2020 @08:25AM (#23202834)

> IMO GS's culture has always struck me as a lot of self anointed hubris and resembles attitudes found on /r/iamverysmart

Having gone to a GS recruitment event, that was basically what I came away with. I’m sure they’re doing technically interesting things, but I honestly cannot sort it from the bullshit.

[ Parent | on HN ]

Re:Warren Buffett’s Berkshire dumps most of Goldman Sachs stake by koheripbal on Saturday May 16, 2020 @12:02PM (#23204550)

...and yet it was always extremely difficult to get a job there, and they paid the best. ...that's literally how you attract the best talent.

...so you, they were arrogant. Maybe some portion of that was earned?

[ Parent | on HN ]

Re:Warren Buffett’s Berkshire dumps most of Goldman Sachs stake by lonelappde on Saturday May 16, 2020 @06:30PM (#23207729)

They were talented but the talents were theft, fraud, and self-dealing, not capital allocation.

[ Parent | on HN ]

Re:Warren Buffett’s Berkshire dumps most of Goldman Sachs stake by phyalow on Sunday May 17, 2020 @01:07AM (#23209737)

I can assure you not much in high finance is "earned".

[ Parent | on HN ]

Re:Warren Buffett’s Berkshire dumps most of Goldman Sachs stake by carlsborg on Saturday May 16, 2020 @12:07PM (#23204610)

If you didn’t work there you didn’t see how the machine works. It was genuinely world class: they’re pulling right from the top to make you the best you can be, and the best get rewarded.

[ Parent | on HN ]

Re:Warren Buffett’s Berkshire dumps most of Goldman Sachs stake by superhuzza on Saturday May 16, 2020 @01:13PM (#23205232)

Totally anecdotal:

I know a few people (5-7?) from both high school and undergrad who went to work at Goldman Sachs. 2 in NYC, at least one in both of London and HK. All of them were pretty middle of the road in terms of academic achievement, smarts, leadership etc. The smartest people I know from back then are mostly working at NGOs or academia.

The one thing that all the GS people had in common is that they cared a lot about having a high salary. The kind of guys who like to buy expensive champagne at the club, is embarrassed if they don't make it to Bali for spring break. That kind of thing. Absolutely no moral judgement on my part, this is just what I noticed.

[ Parent | on HN ]