Lawrence McDonald, founder of Bear Traps Report, called Warren Buffett the “GOAT” of asset management on Sunday while noting the legendary investor put “very little capital to work” during the 2020 Covid market drawdown compared to 2022’s market stress.
What Happened: “No one calls Warren out on that. He’s the GOAT — asset management is so difficult,” McDonald wrote on X, responding to claims that Pershing Square Capital Management‘s Bill Ackman suggested Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) would be better managed after Buffett’s departure.
Ackman quickly refuted these claims, stating, “I said no such thing,” and directed readers to his original post explaining comments made during a recent podcast that were “twisted” by media.
In his clarification, Ackman called Buffett “an extremely important hero” and “unofficial mentor,” explaining his views on Buffett’s cash holdings: “Warren sort of has this price discipline where if it trades for more than 10 times …
