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I lost respect for Warren Buffett when he supported and campaigned for the bogus bank bail-out.
Buffett went out and bought a butt load of Goldman Sachs one of the first to receive a big ole government welfare check. Can you say conflict of interest?
We all know how the bail out worked. Failed bank executives got their year end checks and the continuation of their corporate perks. There has been no increase yet in credit liquidity and no restructuring of mortgages.
The Big Boys got theirs because they could.
Buffet's stock is good only for the super wealthy who in their lifetimes never need to cash in. The big plus is having huge amounts of cash tied up in a fairly safe but mediocre investment that is not taxable.
Buffet makes gobs of money for----Buffet. Now if you bought it 40 years ago and stayed with it through the growth years, well that is a different matter.
The stock has been a poor performer these last few years. Perhaps that is why he resorted to buying a company that is being funded by the taxpayers after he campaigned for that very action.
The only people who would tell us not to freak out at the current economy are those who stand to gain something from us not freaking out. Translation: don't get out of the market until the financial institutions have had time to deleverage themselves a little. After that, they don't give a damn what you do. They sold you that credit crunch story so you'd panic just long enough for them to appropriate your tax dollars. There was no credit crunch, you've just been financial morons for so long, it finally caught up with you. You don't have any money, you haven't had any money for quite some time now, but they had to time your demise perfectly so that they wouldn't sink themselves with you.
Now, here are the reasons why you should be freaking out: a) you have no money b) you have no jobs c) there's nothing anyone can do about it (no, not even Obama) d) that infrastructure "new deal" will just get its hands on more tax payers money, but if you think you can float the entire US economy on tax dollars that don't even exist anymore, you're dreaming. Get everything you currently have in the markets outta there as soon as possible. Keep it in cash or physical gold, not paper gold. Kneel down and pray just in case it might somehow make you feel better.
Buffett can afford to take more risks than us shlubs.
Maybe pitching his stocks so that he can unload now and buy back later?
Theres only one way to predict the future, and that is by looking at the past.
What goes around comes around.
Dear Mr Buffett,
Is it safe to take what I managed to save from the thieves out of the shoe box and re-invest it now or should I wait? Please look into your crystal ball and tell me where I should invest my hard earned money
Quit your job, or wait for unemployment, and then take up day trading, if you're smart, intuitive, and learn quickly.
(This is partially sarcasm, but not).
Real estate is a bad idea right now, and any long-term investments. Good, healthy companies with strong fundamentals have lost a LOT of value over the last 1-1/2 years. We ain't done yet.
How low can they go?