Hedge fund titan slams Warren Buffett

[loyek590]

no, I'm TEA, Taxed Enough Already

 

[Frederick Foresight]

I would love to see Mr. Buffet prove his point beyond partisan hyperbole and bloviation by announcing that he set aside deferred and capital gains treatment and paid his personal income taxes at the ordinary income rate, just like his personal secretary, in order to set an example for others in his profession and income bracket.

I think perhaps you should look beyond your own political hyperbole and bloviation. ("Bloviation." Good word. Thanks.)

Mr. Buffett may be many things, some of which you may not like, but he is not a fool. What good would it do to the system for him to be the only guy in his position doing what you suggest? What good would you be doing to a swimming pool by being the only one not pissing in it? Either everyone plays by the same rules, or there is no point in being the only one paying the price. But you know that already, don't you? You're just...bloviating.

My guess is that Mr. Buffett would be the first in line to adhere to the kind of tax policy he is suggesting if it were to be in force.

So let's all agree to clean up the pool and then, together, keep it that way, shall we?

 

[loyek590]

if you would eliminate corporate taxes, I would gladly pay the going rate as ordinary income on my cap gains and dividends.

 

[piezoe]

TEA baby, taxed enough already. Got a problem? Come up with some other solution than taxing me more. Perhaps cutting spending? How would your life or my life or any child's life be harmed if we quit spending money on The Department of Education? I don't even know what they do. Do you? Or does anybody?

http://www.ed.gov/

 

[galvinlee888]

LAS VEGAS — There was some billionaire-on-billionaire verbal violence Wednesday, with hedge-fund manager Daniel Loeb accusing Warren Buffett of not always practicing what he preaches.

In a one-on-one conversation with Skybridge chief executive Anthony Scaramucci at the Skybridge Alternatives conference, Loeb went off on a tangent when asked about his favorite books.

Loeb, after reciting a short list of self-help books, said he also enjoys reading the Berkshire Hathaway chairman’s annual investor letters because he enjoyed “contrasting his words with his actions.”

Bloomberg
Daniel Loeb in 2014
Buffett criticizes hedge funds, but effectively put together the first-ever hedge fund, Loeb said. Buffett also criticizes activist investors, but “was the first activist.” Buffett also wants people to pay more taxes, but does what he can to avoid them.

The mini-rant drew applause from the audience.

In a wide-ranging discussion, Loeb had praise for Japanese Prime Minister Shinzo Abe. Japan’s government has pressured companies to follow through on corporate reforms, he said, adding that he probably left $1 billion or more on the table by selling his stake in Sony too soon.

Loeb also scoffed at China bears, saying no one has yet made money shorting the country.

There is a unspoken secret in the street, don't piss off Warren, as you don't know when you may have to beg him for help when your fund ( aka gambling money) run into trouble.