Buffet and Munger manage the companies they buy. You, 99.99% of stock purchasers... | Hacker News

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		cudgy on Feb 14, 2022 \| parent \| context \| favorite \| on: What to know about the stock market (2007) Buffet and Munger manage the companies they buy. You, 99.99% of stock purchasers, and I are dependent on the existing management with no control over decisions companies make. Big difference.

greedo on Feb 14, 2022 [–]

Actually they don't. They put managers in place and are largely hands off on the running of their acquisitions.

cudgy on Feb 14, 2022 | [–]

They pick the manager and understand their personalities and backgrounds fully. That is far from hands-off.

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