zaman wrote:There have been several "Warren Buffett's";
There was the early Buffett who tried running all sorts of businesses himself, there was the Buffett who discovered Ben Graham and became a cigar butt investor, then there's the one who met Charles Munger and started buying truly great companies at a reasonable prices. ISTM that now we have a Buffett that realizes that his time is short and is trying his very best to prevent the next guy from screwing up his baby (Berkshire) after he dies. Quite a record if you ask me.
Actually, Buffett has evolved to be a rent-seeker as a result of his investment in Goldman Sachs. This might be motivated by his trying to prevent big losses from his "weapons of mass financial destruction".
In economics, rent seeking occurs when an individual, organization or firm seeks to earn income by capturing economic rent through manipulation or exploitation of the economic or political environment, rather than by earning profits through economic transactions and the production of added wealth.