thee olde bozo of omaha

Discussion in 'Economics' started by marketsurfer, Dec 22, 2003.

  1. I read that Fortune article, but fell asleep 1/2 way thru!

    37 billion bucks on pure dumb luck!:D

    Maybe we shouldn't try too understand "too" much!

  2. pspr


    Economists in academia always have complete understanding. That's why they are all so wealthy. Aren't they?

  3. until an economist can accurately predict anything, my money is on Buffet
  4. LOL...this is a comment from the brilliant economist:

    " Like Ross Perot, George Soros, and countless other business people, Warren Buffett is proof positive that someone skilled at creating wealth does not necessarily understand the economic system that makes wealth creation possible."

    Spoken like a real teacher who probably will never make over $100k a year to the countless billionaires who know nothing!
  5. I wished I was that olde bozo of omaha worth about $30B or so. That would be nice!

    Most academics don't know jack about money. I read that article. The writer who is some economics department at GMU who probably makes at most $150K/yr.

    But we are not doing a pissing contest here. You can still argue academic points without comparing bank balances.

    But I still think Buffett has a point though.. Continued deficit can't be good long term for this country...
  6. jem


    That econ depart has been home to some noble prize winners or winner. They were extensions form the chicago school of economics. He might know what he is talking about. I know they were very towards markets and making money in the real world and sort of anti emh theory when I use to follow that kind of stuff in the 80s and early 90s.
  7. I still wish Buffet was my Dad; and not the economist.....

    Life would be much better with an ignorant rube of a Dad with 37, billion, than some smart ass "refuter" economist!

    GN all
  8. jem


    true and do not forget you would get to hang out with your dads cousin Jimmy Buffet during the holidays.
  9. def

    def Sponsor

    I think Mr. Buffet is right on this one. Ever think about what happens when those investments in American assets start shifting towards other foreign markets. Given the current weakness in the dollar and low interest rate environment, if you were the treasurer of a multi-national or finance minister managing a large account surplus, would you be keeping the majority of your assets in USD denominated securities?
    #10     Dec 23, 2003