Re:Warren Buffett: Stay Away From Bitcoin. It's A Mirage
by mcguire on Friday March 14, 2014 @02:49PM
(#7400941)
The foundation of Berkshire Hathaway is insurance. If you think insurance is simple, you're either much smarter than I am, you know a lot about things that I don't, or you're delusional.
My understanding of BRK is that it is the business of resource allocation (i.e. "management") for the purposes of investment. (Did I mention the insurance thing?) I suspect that provides enough of an understanding of the situation for Uncle Warren. I don't believe BRK is involved in currency speculation as a primary business either. ("Primary": currency risks are unavoidable. What I doubt is that Buffet regards them as a profit center.)
My understanding of BRK is that it is the business of resource allocation (i.e. "management") for the purposes of investment. (Did I mention the insurance thing?) I suspect that provides enough of an understanding of the situation for Uncle Warren. I don't believe BRK is involved in currency speculation as a primary business either. ("Primary": currency risks are unavoidable. What I doubt is that Buffet regards them as a profit center.)