I was listening to Bloomberg when Buffet came on to say he bought some BAC in August. Haha! At 7 per share??? Now the blasted stock is at 5.5. I guess Buffet is doing too well nowadays between BAC and Obama. Picking losers!
his timeframe and ur timeframe is different. he looks at earnings in the long run. best not to think u are smarter then a billionaire.
a lot of the most influential and richest investors in the 20's and 30's went broke trying to call a bottom as well. it'll be interesting to see what people think of buffet once the dow breaks through 5k. i wonder if all those puts he sold will break berkshire- that's the real question.
Its nice they are european with no margin maintenance requirements, for Berkshire's sake. The odds are, given monetary looseness over the long run, that those puts should be at worst a break even trade.
He lost a few million??!? Shit man the guys practically broke. He only has 50 thousand "million dollar bills" left. He might be forced to liquidate 20 of his shares of berkshire.
Buffett hasn't lost a dime on this and won't. He got preferred which will give him his guaranteed $300M dividend payments a year and he didn't pay a dime for the 700M warrants at $7.14/share or whatever it was. The warrants, which you may be referring to as his losses? were just a sweetener for him that he got as a "thank you". Buffett doesn't lose.
Good point. We should all take notice, fer example: (Roughly speaking) WEB bought some USG back in 1998 for about $11 a share, went down to maybe 5 -6, then went up to over $100 pps, then on the way down bought some more at $40 and here we are today back down to $6+ a share. Ya have to admit 14 years later and not selling- his time frame is different.