Buffett has regularly said he lacks the ability to predict the future on a macro level. Yet here he is doing just that. Last year he could not even predict out 3-6 months, what is he doing predicting out 5 years? Buffett is a poor macro analyst so he would be better off just remaining quiet on the subject, rather than suckering in millions of clueless noob investors by making arrogant and likely mistaken forecasts as to where the economy is going. He should stick to his expertise of identifying franchise businesses, and keep quiet on subjects he knows little or nothing about.
What are the grounds for believing that though? Unless you think there will be a shift to a very dirigiste economic system (possible) that lasts 30-40 years despite failing to generate any growth (more unlikely). Democratic free societies normally respond to obvious fuckups quicker than 4 decades, especially when that lesson (socialism = no growth) has already been learned from the late 60s and 70s.
What a charmer you are. You must be a real hit at parties. Yes, please continue with your discourse on the idiocy of the world's richest long-term investor. We have so much to learn from you.
Buffett has regularly said he lacks the ability to predict the future on a macro level. Yet here he is doing just that. ------------------------ Good point. Schumer is talking about naked shorting like he discovered it, Obama is talking about P/E's and now Buffett is breaking new ground. I'm telling ya, the Pope is going to be ringing the opening bell on the NYSE any day now.
Really? So unless they are greedy, single-minded, self-involved money-grubbers then they must be guilt-ridden? No middle ground? Just two-dimensional cardboard cutouts?
And yet they support Obama, who supports an estate tax and higher taxes for the rich with fewer loopholes, which you guys have been shitting upon. Always an ulterior motive for you guys, eh? However inconsistent your own logic may be.
End of Warren Buffett? Likely. But only because... the BIG Bear Market crushes (1) almost EVERY stock, and (2) almost EVERY investor. Even if you have avoided this decline or profited from it by being short equities, or long Treasuries or gold, you're not out of the woods. There will be no "safe" ground until THE bottom is in.... my guess is '14-'16. A clue as to when THE BOTTOM is in... Wal-Mart trades <$5. We are still EARLY in this decline, sadly.
"They" have no choice but to support higher taxes (irrespective of whoever is the puppet on the stage), as the discretionary income of the vast majority is so saturated with debt they are unable to aquire more debt. Now they can make it appear as if they are "doing their bit" to save the "economic victims" from decades of suffering. I'm sure all that tax they will contribute from their personal billions will really hurt them...
Not exactly. He readily admits that he has no idea where exactly prices or the economy will be either tomorrow or next year. His "vision," as it were, is more vague and longer term. On balance and over the longer term, his views have served him well and probably somewhat better than yours have served you.