i am very surprised to see the market turned around today after warren buffett make that statement. i thought it would tank at least 200 points.
come on, folks, do we need warren buffett to tell us the US is in a recession? i think not! we know it all along, all the signs are there: horrible housing market ...and the financials are breaking down... its terrible ... worst than bubble bust period.
What difference it makes what Buffet says? You have already brought down your stock market to its knees in the ensuing fear and despondent behavior. What difference it makes now? The market is teethe-ring on the brink of next leg down and its a question of when not if. This is a well known fact that economy is slowing down, but the panic and anxiety is way out of proportions and doom and gloom out of control. Look what you did to the real estate market, you are doing the same to stock market and the behavior never changes.
I hope stock market crashes once and for all and you be done with it. Buried in the same pit with it forever , never be able to trade again. Enough of this doom and gloom weak idiots.
People on ET already have a feel that they are in a recession. Does Warren Buffet enlightens these idiots any more?
I had to think this through what he said and why he said: Warren Buffet wants to scare the daylights out of your manipulated asses. Why? Because he is an institutional trader. He is stoking your insecurity and fears. He is essentially a manipulator. Because he is ferociously accumulating positions himself when you are selling and the stocks are cheap and under valued. Its in his interest that he harks you and fools you blind. Never take words from the world's most ugliest greedy billionaire. He is on buying binges rolling his shirt sleeves while you make it easy for him. But you do not have the wherewithal or the nerve to buy right now ? Here is an piece someone wrote about him today read it: "It's worth noting, however, that his grim assessment of the current state of the economy aside, he continues to invest aggressively in stocks he believes are undervalued. Last month, he became the largest shareholder in Kraft (NYSE: KFT) and also picked up shares of GlaxoSmithKline (NYSE: GSK). The point is that investors seeking to emulate Buffett probably shouldn't be scared away from stocks by broad macroeconomic trends. Recession or no, Warren Buffett invests zealously in companies the believes in.