The recession’s biggest winner: Warren Buffet made an astonishing $10 billion from financial crisis

Daily Mail (UK) ^ | 15:40 EST, 7 October 2013 | (Daily Mail Reporter)

[Olog-hai]

For many, it was a period of financial turmoil as banks failed, stock markets tumbled and millions lost their jobs.

However, billionaire Warren Buffett kept on doing what he does best and began investing in a handful of blue-chip companies during the financial crisis. Five years on and the value of those deals are clear for all to see, America’s second-richest man earning another $10 billion thanks to his choice investments. …

The fall of 2008, when the market was shaky and confidence was low, a number of stocks of companies that had decent reputations were at record lows, including Wells Fargo & Co. and American Express Co. “You make your best buys when people are overwhelmingly fearful,” Mr. Buffet said. …

[IbJensen]

Good for Warren.

Bad for the rest of us poor slobs who slogged along during the worst and most inane administration in the history of the world!

Go to hell BO, along with the rest of your homosexual friends!

[bray]

How much did his secretary make?

Cronyism has its benefits.

[justlurking]

Why do you think Buffet has been carrying water for Obama?

[Hayride]

I didn’t bother reading the article but I’m assuming it’s about him being the private citizen who benefitted the most from the bankster bailout. This is only news if you get your “news” from the collaborator media.

Think this guy is some good ol’ boy philanthropist who made good by keeping his ear to the ground and trusting his instincts or somesuch hokey b.s.? This fraud is just another globalist demon who without a doubt agrees with Turd Turner that the population has to be reduced by 90% or more.

[mountainlion]

George Soros must have made at least 10 times that amount then.

[gaijin]

He loves Hillary and he loves taxes.

He has always been a bit progressive, but when Obama was elected he really, REALLLY sold out to the establishment and went all-in.

I loved this guy for his simple living, but now I hate him.

FREAKING SELL OUT.

Got his 20 pieces of silver, all right.

[Helotes]

I disagree. It’s going to take people like Warren Buffet who hopefully is able to pick up the pieces when even bigger firms crash in the coming depression.

The faster the Warren Buffet’s can act, the shorter the disruption will be. They will be making money but others will be losing big time so it all evens out. Thank God.

Vanderbilt’s in the 1930’s depression as an example.

But the day of reckoning is coming soon.

[3Fingas]

He has friends in low places.

[RayChuang88]

Buffett is in many ways like Joseph P. Kennedy, the patriach of the Kennedy family. Kennedy bought a LOT of highly-distressed real estate in the New York City area at the start of the Great Depression and when he sold it in the late 1930's, make a gigantic mint of money from the sales. Why do you think the Kennedy family was able to build that big compound at Hyannis Port, MA just when it started to become an affluent summer community?

And Buffett is known for long-term investments in companies. He bought Nebraska Furniture Mart and turned that into a powerhouse retailer with only three retail locations and recently bought the BNSF Railroad, which has proved to be a very wise investment given that BNSF is now heavily involved in shipping crude oil from the Bakken oil fields in North Dakota.

[Idaho_Cowboy]

The faster the Warren Buffet’s can act, the shorter the disruption will be.

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In this case that may be, but sometimes the people who make the money and act first can cause those behind them to mistakenly take similar action cause severe problems in the market. That said the Warren Buffets of the world will do a beter job making corrections than the government will.

Cyril M. Kornbluth did a great little short story on that called Dominoes.