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Unless Buffett mooned this guy, he cannot possibly see Buffett's "end". Buffett has consistently read market signals correctly. While he certainly can make mistakes, he has a better track record than almost anyone.
While no fan of Doug Kass, he has a major point: Warren Buffett is not doing what needs to be done to protect his company, the shareholders, and the businesses they own. Buffett needs to use his huge shareholdings to change out the greedy CEOs and the incompetent boards that keep them, for new blood receiving smaller salaries. Under no circumstances should companies award bonuses unless they increase both the top and bottom lines, not the share price.
The rumors of my death are highly exaggerated.
-- Warren Buffett
Bad people do not like Warren Buffet.
Let me get this straight, Kass is a short seller whose only interest is making money when someone fails. Is he one of those Naked Short Sellers, where they have the clout to just pick and chose a company to short sell millions of shares of stock knowing that their actions will drive the stock down??? They are even allowed to short sell over and above the the total of all any one companies stock. For example- A company has 2 million shares of stock, period. People such as Kass do a naked short sell and move 6 million shares. How can you trade more shares of a companies stock than they ever even put into existence??? It's happening right now and decent companies are being taken down by these criminals. Unnecessary layoffs, plant closings, etc... because of stock manipulation. What a joke to make money off of creating misery.
Buffett said it all when he stated he is an investor. He buys when he sees a good long position and sells when he thinks a companies stock has run its course.
Warren Buffett was on the hot seat with his investors during the dot.com boom. That turned into a bust and Berkshire shareholders were amply rewarded.
Buffett understands the businesses he 'invests' in. Bad tempered short sellers don't understand this strategy.
THIS SHORT SELLER IS LIKE A FISHERMAN HE IS SPREADING CHUM ON THE WATERS TO FIND MORE FISH WHO WILL PLAY THE TRADING GAME INSTEAD OF INVESTING FOR THE LONG HAUL.
Exactly. People that want something quick and overnight without patient end up the loser. Warren might lose a little money, but he is a humble and patient man. He is doing his part to help america is Kass? No Kass is just a smart A**!
Buffett is not a trader, he is an investor. Anyway, a man like him who build his entire net worth through his own efforts does not suddenly lose all of his intelligence and blow his wealth away for no reason. Take time to read this insightful recent interview with him:
http://www.pbs.org/nbr/site/onair/transcripts/090122t/
I think he is still on top of his game and will probably double his wealth by the time this brouhaha is over. Too bad he doesn't dabble in technology otherwise I would be the first one to knock on his door. We need more principled captains of the industry like Buffett, he is truly an inspiration and we can use more like him.
I think the discrepancy between Buffett's '08 statements and more recent ones indicate that he himself would acknowledge that he underestimated the depths of the Bush depression. I believe he put too much faith in his axiom about being fearful when others are jacking up the price and fearless when others are running scared. Sometimes we're so wedded to our personal philosophies that we fail to read even the clearest signs in front of us. I wouldn't count Buffett out yet, but he's gotta be reeling.
Warren Buffet earned his reputation by gradually building a solid portfolio of large financial service corporations and holding them through the hard times. He doesn't time the market, shifting capital from bubble to bubble, turning a profit on shrewd trades and fancy arbitrage. He picks his horses and sticks with them for good.
He really does believe that a tree can grow to the moon if he starts with the best seed. His basket of companies is of such a fine pedigree, in his view, that they can keep growing indefinitely. What people don't understand is that, as wise as Buffett is, he isn't going to brilliantly trade his way out of a tanking financial sector. He's never done that. If past is prologue, he goes down with the ship.
Buffett isn't running into bonds or commodities. He buys and holds large, established companies with proven business models that he understands well. Those companies don't exist right now. Big finance and big industry business models are failing, and the few bright spots are too small, too technical, and/or too innovative.
Warren Buffett got his start by running a private Ponzi scheme, then using the proceeds to buy up legitimate stakes in the massive Ponzi scheme we call the financial sector. Now it's over. Trees can't grow to the moon. Buffett is the next Greenspan: revered right up until the music stops playing.
I'll be brief: You don't know what you're talking about.
A well worded Iie.
This guy is like Toliet Paper stuck to the bottom of Buffets shoe.
Buffet has already given away more money than you will ever earn in your life time !!!!!!!
IDOIT !!!!!!!!!
It is hard to doubt Buffet but I wonder about the railroad investment . Maybe Buffet's time frame is very long.
Railroads haul raw materials, coal, ore, pulpwood, grain. In the late 1950s we had a severe recession and it did impact the railroads - less freight.
Sure, recessions affect the RR's. I believe the investments reflect the added potential with rails to gain traffic as energy prices increase, given their superior fuel economy compared with trucks. The economy will rebound and energy prices will rise - exponentially, most likely. As this occurs, the logic of these investments will become more evident.
Give me a break, Warren Buffet could lose three times that amount of money and still have $2 Billion.... I think he's got some wiggle room.
It's hard to worry about a guy with $60 Billion.
Let's check in on these guys in say about 3-5 years and see.
Excellent news.
Jubilee. Olley Olley Oxen Free.
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CNBC | Alex Crippen | January 27, 2009 09:44 PM