Warren Buffett At 90
Has the Oracle of Omaha Lost His Touch?
These days, Warren Buffett works largely alone…in more than one sense.
Berkshire Hathaway’s May 2 annual meeting, normally a raucous affair, took place remotely. Buffett, looking disheveled from months in isolation, delivered his remarks onstage to an empty 19,000-seat arena.
It was a fitting metaphor for the present state of Buffett’s career. The Wizard of Omaha continues preaching the same value investing principles that he has practiced for some seven decades, but few are listening. Out of context, one might have thought that Buffett’s faithful had abandoned him. Indeed, many actually have.
Critics Pounce
It’s no secret that Buffett has underperformed the market for the last decade, although the critics have grown louder and bolder.
Barstool’s Dave Portnoy, the self-proclaimed “captain of the stock market” and guru of a new wave of day traders, called him “washed up.”
Tesla boss Elon Musk opined that the idea of economic moats — a key pillar of Buffett’s investment philosophy — was “lame” and “quaint.”
“Dud stock picks, bad industry bets, vast underperformance — it’s the end of the Warren Buffett era,” read the title of Howard Gold’s Market Watch…
