Various people are wandering about saying that investor Warren Buffett has lost his touch. The gist of the argument: A combination of style drift (derivatives?!), ill-timed investments, and his "long term" refrain on declining positions demonstrate that he is, at the very least, having a hard time right now, if not outright floundering, at least a little.
Doug Kass argues this in a morning post over at RealMoney. As he would concede, this isn’t the first time Warren has been deemed ready for pasture, what with similar arguments having been made in 1999, which turned out to be premature.
Is this time different? Kass argues "Yes", with the Buffett no longer having as long a long term as he once did, and with his style drift particularly worrisome in the face of some ill-timed investments.
Iâ€™ve been arguing for some time that Buffett is feeling more pain than most people realize, but Iâ€™m also not convinced he has lost his touch either. Maybe it’s time to open this conversation up. Other thoughts?