Date: Mon, 9 Mar 2009 14:38:12 -0700 (PDT) From: [email protected] On or around Oct 15, 2008 Warren Buffet urged to invest in US stocks. Since then the DOW Jones has fallen from 8,800 to 6,600.
If the Oracle of Omaha, one of the richest persons in the world and considered a top investor can't get it right, where does it leave mere mortals. Imagine the REAL money people lost taking his advice. Or will he hide like others behind the fine print "past performance is not indication of the future" or similar caveats. This is why I have written it is better to admit one does not have a clue about the economic meltdown and what might happen in the future. Mario responds: The person who has hijacked George Pinto and is posting in his name continues his furious assault on nonsense and bogus financial advice, which can even come from otherwise perspicacious people like Warren Buffett. Warren Buffett has lost BILLIONS in the recent financial meltdown, taking some of the shine off his previous success in rising markets and moderate economic policies. I think he has been blinded by his white liberal guilt on social matters which led him to help elect Barack Obama, even though he had to have known that Obama's entire history is fundamentally and profoundly antithetical to the capitalist system which has been so good to Mr. Buffett and millions of others and been adopted in some form or the other by the previous proponents of extreme socialism like India, China and Russia. In a recent TV interview Mr. Buffett expressed some profound disagreements with the administration he helped elect: 1. He disagrees with the Obama support for changing union rules that currently provide secret ballots in union elections. 2. He says that cap and trade legislation, strongly supported by the Obama administration, will add a huge additional cost on the middle class for energy and manufactured products which will be like an additional tax. 3. He says that corporate jets are a useful tool and the use by corporate CEOs of private jets is a legitimate business expense. 4. He disagrees with the Obama administration notion that a crisis should be used by the government to ram questionable economic policies down everyone'e throats. 5. He disagrees with the Obama administration tactic of heavy handed dealings with the minority opposition in the Legislature while asking for cooperation from them. All this and its been less than 60 days into the new administration. Yet, from the other side of his mouth, he says he still thinks Obama was "the right guy" and deserves support. Stay tuned for more contradictions by Mr. Buffett as this all unfolds.
