Warrren Buffett on the economy

[Sofiyya 1,687]

I wrote the above post.

From the moderator.

I'm not worried. I didn't call you a douche bag. I'm nice.

I'm not worried either. I'll play by the rules.

Better late than never

[William33 110]

Any (previous, and there were some) or further TOS violations, will result in further suspensions.

Back to topic. Thanks.

Edited March 11, 2009 by William33

[Sofiyya 1,687]

?

[Niels Bohr 72]

VW has better advice than the most successful man in the history of investments.

[Sofiyya 1,687]

VW has better advice than the most successful man in the history of investments.

True, but I'm not the showboater Buffett is.

[mawilson 2,133]

[bERKSHIRE HATHAWAY INC. wants us to believe that we can solve all of our problems by giving it lots of money. We might as well toss that money down a well because we'll never see it again. What we will see, however, is that idle hands are the devil's tools. That's why BERKSHIRE HATHAWAY INC. spends its leisure time devising ever more politically incorrect ways to base racial definitions on lineage, phrenological characteristics, skin hue, and religion. Okay, I've vented enough frustration. So let me end by saying that no reasonable person would deny that I cannot conceive of any circumstance under which BERKSHIRE HATHAWAY INC.'s smear tactics could be considered appropriate.

Bershire Hathaway still turned a profit of $5 billion.

Yes, a six-year low of $5 billion for the whole year. With a 96% fall in profit for the final quarter of 2008,

down to $117 million. Not impressed.

That's cool.

A 96% fall in profit is cool? Good grief, man.

Buffett can certainly do whatever he wants with his own money, but his call for people to

jump into the market at the worst possible time is despicable.

He wrote in October 2008,

"Those investors who cling now to cash are betting they can efficiently time their move

away from it later. In waiting for the comfort of good news, they are ignoring Wayne

Gretzky’s advice: "I skate to where the puck is going to be, not to where it has been."

Unfortunately, his statement is completely without any basis in fact. History shows that contrary

to popular belief, being late relative to a market bottom is a better strategy to being early.

Merrill Lynch's chief investment strategist Richard Bernstein analyzed the 10 worst market

troughs of the past 50 years, and compared the results of buying 6 months before the bottom

and 6 months after. Piling in 6 months after the bottom proved to be the better strategy in

7 cases when the money was held in cash in the interim 12 months, and in 8 cases when the

money was held in long-term Treasury Bonds.

(Link here.)

Speaking of Treasury Bonds, did you know that US stocks have now underperformed Treasury

Bonds since 1969? 1969! A whole generation of savers.

After 1932 (the bottom of the Great Depression bear market), it took stocks 26 years to get back

to the 1929 peak. Japan's stock market is now at levels last seen in 1982.

Stocks do perform best over the very long term. Unfortunately, the term may be so long that

it does not help people during their lifetimes.

[Pinocchio Liberal 268]

Obama voters They are gonna ride that vote right to the fvckin soup kitchen! Kinda like Jim Jones followers. Here, have a lil sip.

[Volkswagon 0]

Obama voters They are gonna ride that vote right to the fvckin soup kitchen! Kinda like Jim Jones followers. Here, have a lil sip.

What's a soup kitchen?

[Niels Bohr 72]

To me, I don't understand the rhetoric of the right always degrading people beside themselves. Very closed minded.

The right always attacking the left. Whereas the left justify their defence instead of attacking. For example,

The initiator will be the right, "The obama voters don't know the truth."

The left replies, "What truth?"

The right, "You should know it. He's a terrorist."

The left lift a brow, "He's not a terrorist."

The right, "He's pailin around with terrorist."

The left, "Huh. I don't understand. Where's the proof?."

The right, "We don't need one since he talked to members of the organization overseas."

Evidently, the right tend to follow a gut feeling approach than using reason.

Talking about reasoning skills, I think the left have better reasoning skills than the right.

Edited March 11, 2009 by Niels Bohr

[peejay 327]

Obama voters They are gonna ride that vote right to the fvckin soup kitchen! Kinda like Jim Jones followers. Here, have a lil sip.

What's a soup kitchen?

If our government does not pull a magic rabbit out of it's tin foil hat you will learn real soon what a soup kitchen is.

It's a public kitchen to feed the unwashed masses of destitute citizenery to fend off malnutrition when the economy crumbles.

Last seen in widespead usage during the Great Depression of 1929 - 1940.

[I'm Gone 60]

http://www.youtube.com/watch?v=HzK-qZzmnTE...feature=related

http://www.youtube.com/watch?v=_izvHhD6pF0...feature=related

http://www.youtube.com/watch?v=cCZG9KT8NvU...feature=related

A speculator (gambler) that made it big. However, his original investment principles would lose money today...

Yeah, but unlike Buffet he isn't giving advice that will lose money today.

[I'm Gone 60]

After 1932 (the bottom of the Great Depression bear market), it took stocks 26 years to get back

to the 1929 peak. Japan's stock market is now at levels last seen in 1982.

Which president is now copying the things that made those wonderful returns? LOL

[Volkswagon 0]

Obama voters They are gonna ride that vote right to the fvckin soup kitchen! Kinda like Jim Jones followers. Here, have a lil sip.

What's a soup kitchen?

If our government does not pull a magic rabbit out of it's tin foil hat you will learn real soon what a soup kitchen is.

It's a public kitchen to feed the unwashed masses of destitute citizenery to fend off malnutrition when the economy crumbles.

Last seen in widespead usage during the Great Depression of 1929 - 1940.

Have you ever eaten at one? Is the soup good?