Perhaps, like me, many may have come to realize that a shift of investing paradigm from “value” to “rent seeking” cronyism requires little financial acumen.
And a political route towards investing means partisanship that leads to polarization and ethical erosion. Thus Warren Buffet may have been losing lots of fans as measured by the latest charity fund raising lunch.
Writes the Zero Hedge (bold original)
Demand for Warren Buffett, the investor, peaked in 2012 when an anonymous donor bid $3,456,789 for the annual Glide Foundation's eBay lunch with the Octogenarian of Omaha. Demand for Warren Buffett, 82, the Obama tax and fairness advisor, however, is a mere fraction as the stunned Glide Foundation found out last night when the final bid for the "Power Lunch for 8 with Warren Buffett to Benefit GLIDE Foundation" auction closed at the lowest possible 6 digit increment, or an embarrassing $1,000,100. This was the lowest demand to have lunch with Buffett since 2007.This is a stunning result considering that with every passing year, for obvious reasons, the likelihood of many more such "power lunches" drops exponentially. We hope Buffett-demand is not a proxy leading indicator for the stock market or else a 71% plunge is coming.