# Warren Buffett Has Sold His Soul



## wayneL (7 August 2011)

IMO he is starting to talk like a bobblehead cheerleader, reminiscent of the absurd bulls on CNN pre 2007.

I've lost all respect for the man.

Discuss


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## mazzatelli (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*

Well he is getting old....


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## samanne1 (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*

You would be referring to  "Warren Buffett says S&P got it wrong" ???

http://www.globalpost.com/dispatch/...athaway-S%26P-economy-rating-downgrade-dollar

Unfortunately, I think that he is caught between a rock and a hard place. To speak negatively, would put more pressure on their markets. So he has to become a 'bull' to speak the market up. 

Tho it is bit like pi**ing into the wind.


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## nomore4s (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*

He is a bit like Gerry Harvey imo, so used to the good times they now have turned a blind eye to a lot of the Macro problems and risks around atm and the effects that will have on the majority of society.


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## skc (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*

Sold his soul, or lost his mind?


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## craft (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*



wayneL said:


> IMO he is starting to talk like a bobblehead cheerleader, reminiscent of the absurd bulls on CNN pre 2007.
> 
> I've lost all respect for the man.
> 
> Discuss




Gee I don’t Know, Betting against the old guy is betting against a pretty established trend.

Iguess it’s probably important to note that he is talking about the economy and not the near direction of the share market

I also guess your definition of debt default is import here. It would seem to me there is no way USA would ever choose not paying its debt over printing cash to pay its debt. If your definition of default includes inflation then that’s a different matter. The debt ceiling is only relevant because they haven’t actually started the presses for real. Every dollar printed to date is backed by somebody promising to repay – (less inflationary than Zimbabwe style printing).

If America does print without a corresponding debt promise – Its exchange weakens even further and its export competitiveness is further enhanced.  The holders get back less in real terms and have an escalating currency and declining manufacturing competitiveness, unless they double their efforts to blow their foreign reserves trying to keep their currency down. Funding US consumption hasn’t been a selfless act on the part of China etc It has been to keep their manufacturing competitiveness and earn hard currencies. (take a bow Asian currency crisis)  

We are transitioning from the underdeveloped countries funding the developed countries consumption (un-sustainable) to the developed countries funding and supplying goods to the developing world. It was always going to be lumpy transition and it’s not over yet.

I suspect with the cards laying as they are then the US economy will be kept growing in a nominal manner but the real picture after FX is taken into account could be a different story.  

Not sure how much faith the world has in China yet if it was not paying for its imports in US$.  Would we take payment for our exports in Renminbi, It would have to float freely first, its appreciation would be no different than the US depreciation in making the required trade adjustments. 

The USA is well placed (or becoming so as its currency devalues) to be the supplier of technology and innovation to the developing world and that is what  China is going to want as it takes its next step and transitions from Investment fuelled infrastructure growth to domestic  consumption.  I wonder how we will fare supplying the next phase.

I know squat about Macro Economics so you should take this post with a grain of salt – Just some ramblings to understand where Buffett might be coming form– or maybe he’s just old.


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## Tanaka (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*

I'd sell my soul to have the net worth of $50 billion


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## notting (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*

That's understandable.  But it tends not to end well.


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## nulla nulla (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*



notting said:


> That's understandable.  But it tends not to end well.




Yeah but you can have a lot of fun with $50 billion in the time you've got left.


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## Julia (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*



Tanaka said:


> I'd sell my soul to have the net worth of $50 billion




Would you really, Tanaka?  What, actually, would you do with $50 billion?


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## Tanaka (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*



Julia said:


> Would you really, Tanaka?  What, actually, would you do with $50 billion?




I'd buy Greece :


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## Julia (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*



Tanaka said:


> I'd buy Greece :




  You might get Italy as well if you bide your time a bit.


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## DB008 (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*



Julia said:


> Would you really, Tanaka?  What, actually, would you do with $50 billion?




Move to the Moon, or Mars, literally. l would try too.


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## cynic (8 August 2011)

*Re: Warren Buffet Has Sold His Soul*



Tanaka said:


> I'd buy Greece :




Do you think China will actually be willing to part with it, now that they practically own it?


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## MR. (9 August 2011)

*Re: Warren Buffet Has Sold His Soul*



craft said:


> Gee I don’t Know, Betting against the old guy is betting against a pretty established trend.




I got provoked and took a bet against Buffet by one of his cheer squad members just over 2 1/2 years ago after some of WB's broad preaching’s. I suggested cash would outperform the S&P over 3 years. So, if the S&P isn't higher than 1110 on the 16/10/2011 perhaps WB and his cheer squad should have tried a different routine.  



> bobblehead cheerleader


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## Aussiejeff (9 August 2011)

*Re: Warren Buffet Has Sold His Soul*



nulla nulla said:


> Yeah but you can have a lot of fun with $50 billion in the time you've got left.




Yeah, at the rate the DOW is tanking, he might lose $49.99 billion in the next 6 weeks... 

"Oh well, it was fun while it lasted. Don't forget to put the trash cans out tonight.... the dumpster is due tomorrow."

LOL

BTW, on a more serious note Buffet HAS sold his soul - to Obama Bin Ladenwithdebt & his trusty sidekick Timmy the Wunder Dog. The so-called speeches those two dummies made last night, lauding Buffet on the one hand & buffooning S&P as the virtual Great Satan in all of this shemozzle on the other, is sure to send the DOW plummeting ever deeper into the depths. 

Even Mr Market can see empty rhetoric does no-one any favours.... :angry:


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## Tysonboss1 (10 August 2011)

*Re: Warren Buffet Has Sold His Soul*



samanne1 said:


> Unfortunately, I think that he is caught between a rock and a hard place. To speak negatively, would put more pressure on their markets. So he has to become a 'bull' to speak the market up.
> 
> Tho it is bit like pi**ing into the wind.




Does this sound like someone who believes it is in their interest to talk up share prices,

He is sitting on nearly $40B of cash, and wants to find good places to put it.


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## djhenry1981 (10 August 2011)

*Re: Warren Buffet Has Sold His Soul*



Tanaka said:


> I'd buy Greece :




But what would you do with the other $49.99 billion


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## WhoToTrust (12 August 2011)

*Re: Warren Buffet Has Sold His Soul*



Tanaka said:


> I'd sell my soul to have the net worth of $50 billion




Brilliant, I give you a shout :alcohol: :alcohol:

Of course, Boolean logic would predicate that the soul must have existed!  /jokes


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## billv (12 August 2011)

*Re: Warren Buffet Has Sold His Soul*



cynic said:


> Do you think China will actually be willing to part with it, now that they practically own it?



Own it?
I thought it was French and German debt


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## WhoToTrust (12 August 2011)

*Re: Warren Buffet Has Sold His Soul*

http://www.youtube.com/watch?v=NOzR3UAyXao


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## craft (27 March 2012)

*Re: Warren Buffet Has Sold His Soul*

Interesting to review some of these threads in hindsight.


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## Glen48 (27 March 2012)

Sorry the buffet is closed, all we have are left are the vegetables, you should have been here many years ago. 

You mean I have missed out ..yes the bubble has busted.


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## craft (28 March 2012)

Glen48 said:


> Sorry the buffet is closed, all we have are left are the vegetables, you should have been here many years ago.
> 
> You mean I have missed out ..yes the bubble has busted.




I guess if you think the buffet is closed, then for you it is.

For me (and I would assume Buffett as well) the bust just signified a restocking of some of the best delicacies


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## Glen48 (28 March 2012)

No he will be ok, he held the feds prop up the failing banks and became the spokesman for them now Obama is help Buffett with the oil pipe line from Alaska and using Buffett's train to transport the stuff.


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