He doesn't say stay out of the market, or sell everything. He simply thinks we're heading into a recession. There are plenty of great companies to buy during recessions. Recession DOES NOT necessarily guarantee a declining stock market. Get smart before you accuse people of manipulating things. IF ONLY PEOPLE WERE HELD ACCOUNTABLE FOR THEIR SPEECH - people like you (the OP) would be screwed.
He is leaving almost all his wealth to help benefit the poor when he dies. I just donât believe a man who does something like that plots to bring down the markets. I think he is right and people donât want to hear it.
Mr. Buffett is a long term investor who prefers to buy entire companies and has never worried about the day to day markets. He has a pretty good grasp of reality, he and others think the "R word" has been going on for some time. The sub prime train wreck, the $1200 "bail out" for Americans, the Bond insurer possible bail out, geez, economy doing well? We (in general) are not directional type traders, and this allows to be a bit more objective to macro economics, IMO. We ride the waves up and down, short and long term, without too much fear or greed...seems to make sense to me. When traders start talking their positions, generally their vision is a bit biased and blurred. I don't know if the market is going up or down, but I do know that it makes little difference to our traders. FWIW, Don
You are down 30% this year for a reason. I really wish you would stop posting. You are simply NOT THINKING. You are inflexible in your approach and insist on ignoring the facts.
Well said, Don! This fool Day77whatever has been shooting his mouth off about things he knows virtually nothing about. My opinion? No, the evidence is presented daily in his many loud, and opinionated (usually incorrectly, unless the broken clock analogy is applied)posts.
Anyone read his latest report? He's selling puts ATM on various indices including the S&P 500. http://online.wsj.com/public/resources/documents/berkshire2007.pdf Fear and put option premium go hand in hand
I have the gall to admit losses. Have you done that sweetheart? I feel highly secure and confident. Tell me is there any trader who does not suffers losses? Most traders have suffered the same fate and if they tell you otherwise they are lying. The markets lost 20% of wealth and its no picnic getting up everyday, and wrestling with market forces. Excercising restraints, not capitulating amid battles and not giving up in anguish and panic. You know I am the same trader who turned 112% returns in 2007. Nothing has changed except the markets, and yet we plan to make it all back this quarter and some more... If you average the damn thing, I am still up 77% since Jan 2007. That is what I find mind boggling and bit strange.
Buffett has been warning about banks and derivatives for a long time. Was he talking his book then? No. Was he right? Yes. QED