Posted on 11/17/2010 9:22:38 AM PST by Fred
For many years, I’ve been a fan of Warren Buffett’s long term approach to value investing. Understanding the value of a company, regardless of its momentary stock price, is a great long term investing strategy.
But it pains me whenever I read commentary from Buffett that glosses over reality or is somehow self-serving. His OpEd in the NYT today – Pretty Good for Government Work – paints an artificially rosy picture of the Bailout, ignores the negatives, and omits his own financial interest in government actions.
What might he have written if Sir Warren was dosed with some sodium pentothal before he sat down to pen that “Thank you” letter? It might have gone something like this:
(Excerpt) Read more at ritholtz.com ...
A bailout the billionaires ping at you.
LLS
pentathol?
point please???
speling :-)
He is one of the ‘no billionaires left behind’
That’s why the ‘?’ in my first post.
Thanks...done did lernt sumpin tahday.
Warren Buffett is a hypocritical fat cat who has been pulling the wool over the MSM and the common folk for many a year. This guy has made lots of big mistakes with his investments. Lucky for him, a few choices he made worked out, and worked out very well. However, note that Berkshire Hathaway lost huge sums recently because Buffett bet the wrong way with the company’s money. Unfortunately, he has been treated as if he is some sort of god. If he is so smart, then why is he a Democrat???
He certainly is.
LLS
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