[Grampa Dave]

Type for the gizzard of Omaha to retire and quit running his funds to deaf GW and republicans. "offset a $619 million pretax loss from betting the U.S. dollar would fall." Buffet's hatred of GW and America cost Berkshire fund holders $619 millin. That smells like a huge class action suit for share holders.

What is interesting here is the international aspect.

Berkshire is being investigated by other countries.

This should send chills up the backs of any fund manager, fund company and their boards not to play PC games instead of investing on sound principals.

[Grampa Dave]

Warren Buffet, the Gizard of Omaha, cost his fund owners $619 million in his bets against the $ in the effort to defeat GW in 2004.

Buffet should be frog marched to courts around the world for this terrible investment in Moi Kerry instead of sound business investments.

[ghost of nixon]

professional traders will tell you that emotion is their number one enemy - looks like Warren let his ego and contempt for Republicans get the best of him.

[Chode]

HA ha...

[David]

"Type for the gizzard of Omaha to retire and quit running his funds to deaf GW and republicans. "offset a $619 million pretax loss from betting the U.S. dollar would fall." Buffet's hatred of GW and America cost Berkshire fund holders $619 millin. That smells like a huge class action suit for share holders.

What is interesting here is the international aspect.

Berkshire is being investigated by other countries.

This should send chills up the backs of any fund manager, fund company and their boards not to play PC games instead of investing on sound principals."

With all due respect to you sir, that may be a little excessive.

A couple of years ago, I took a number of Annual Reports for large public companies in which I am interested, and ordered their annual SEC filings; restated the Annual Report numbers to a realistic GAAP income statement. Berkshire was the only company that gives you an honest financial statement.

And in doing that, I looked at General Re--and concluded that accounting for a reinsurance entity of this character is an almost impossible task--the presentation of financial results in the Berkshire filings is in my view realistic and directed to an accurate accounting for the results of operations. Maybe not free from error but free from intended misrepresentation in an effort to make an accurate report.

I am not a defender of Buffett's politics; and if you read his published pronouncements on management and investing, he does not always do it the way he says to do it. However his business practices and objectives are to return the most and best results for his shareholders and over the term, he has been very effective. He is an honorable steward of the shareholder's assets and that is unusual in the modern business world.

I have said here on numerous occasions including one time very shortly after he did it that his bet against the dollar was premature and wrong. Although many knowledgable investment managers feel the greatest threat to their financial position is the effort by the Federal Reserve to debase the American dollar, the fed has been ineffective on that effort as it has been in connection with long term management of the monetary base. And the end game is likely to reward Mr. Buffet as correct on the longer term issue.