Has Buffett Joined "The Powers" ??

Discussion in 'Wall St. News' started by gnome, Oct 17, 2008.

  1. With his WSJ op ed ad, "Buy American, I am".
     
  2. Nytimes.
     
  3. You know I am not a gung ho "powers" person but we (Buffett) can only act on information at hand. Vague speculation of the future is not a prudent act for an investor/speculator. Of course prices are low and maybe getting lower yet, so "scaling in" small is not the stupidest idea. I am doing it, :) after all, some US and foreign shares both are attractive at this level. They were not at 14000 dow.
     
  4. >>Has Buffett Joined "The Powers" ??>>

    Yes.

    But buying American has nothing to do with his deal to help bail out Wall St. Buying American is just common sense. The deal he made, before investing in those firms recently, was to be guaranteed one way or another to profit from them. Without the government's signature on that dotted line, Buffet would never risk that money.

    I do not believe Buffet's words about him buying American. Any more than I believe Bill Gates who drives a Ford Explorer and then imports thousands of foreign workers to replace the American ones. It's a front.
     
  5. One must look at Clews in his excellent "Fifty Years in Wall Street" on his commentary about panics. He talked about the old men hobbling down Wall Street with their canes to go buy stocks during the panics. We refer to guys like that as canes. Buffett is a cane, and his prescience demands respect. Not touting my blog, I did include Clews reflections in a post.

    http://masteroftheuniverse.wordpress.com/2008/10/07/advice-from-a-sage/

    Very interesting read, and Clews book is a must for any serious speculator, or any student of the markets. History does repeat itself, and anyone serious about speculation should study the history.
     
  6. No, he is just seeing a 45%+ bear market and thinks there are bargains around. Business as usual for him.
     
  7. Jets001

    Jets001

    i read somewhere the stockmarket is like a pyramid scheme, you get in at the bottom and let people buy in after you thus raising the value of your holdings, if you buy after a major advance you are benefiting the people you got in at the bottom.