Warren Buffett routinely criticizes professional money managers for earning high fees that take away from their clients’ investment returns. But Berkshire has many real-estate brokerages, says journalist Carol Loomis. What about those commissions?
“If you look at our close-to-50,000 agents now, I think they make a good living, or a decent living,” Mr. Buffett says. “But I would say that the people who manage money make a whole lot more money, with perhaps less contribution to the welfare of the person that they’re dealing with.”
He adds that he expects HomeServices of America, Berkshire’s real estate business, to keep growing.
No comments:
Post a Comment