Warren Buffett Has Sold His Soul

[wayneL]

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

 

[mazzatelli]

Re: Warren Buffet Has Sold His Soul

Well he is getting old....

 

[samanne1]

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.

 

[nomore4s]

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.

 

[skc]

Re: Warren Buffet Has Sold His Soul

Sold his soul, or lost his mind?

 

[craft]

Re: Warren Buffet Has Sold His Soul

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.

 

[Tanaka]

Re: Warren Buffet Has Sold His Soul

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

 

[notting]

Re: Warren Buffet Has Sold His Soul

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

 

[nulla nulla]

Re: Warren Buffet Has Sold His Soul

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.

 

[Julia]

Re: Warren Buffet Has Sold His Soul

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?

 

[Tanaka]

Re: Warren Buffet Has Sold His Soul

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

I'd buy Greece :

 

[Julia]

Re: Warren Buffet Has Sold His Soul

I'd buy Greece :

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

 

[DB008]

Re: Warren Buffet Has Sold His Soul

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

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

 

[cynic]

Re: Warren Buffet Has Sold His Soul

I'd buy Greece :

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

 

[MR.]

Re: Warren Buffet Has Sold His Soul

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

 

[Aussiejeff]

Re: Warren Buffet Has Sold His Soul

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:

 

[Tysonboss1]

Re: Warren Buffet Has Sold His Soul

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.

 

[djhenry1981]

Re: Warren Buffet Has Sold His Soul

I'd buy Greece :

But what would you do with the other $49.99 billion

 

[WhoToTrust]

Re: Warren Buffet Has Sold His Soul

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

 

[billv]

Re: Warren Buffet Has Sold His Soul

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