Posted on 09/13/2010 11:13:55 AM PDT by blam
Buffett: I See A Huge Recovery Across All Of Our Businesses Happening Right Now
Joe Weisenthal
Sep. 13, 2010, 1:57 PM
Warren Buffett has never been too pessimistic on the economy, though he's never been one to see consensus on the way up.
Throughout 2009, as the media saw more and more green shoots, the word ouf ot Berkshire Hathaway was one of skepticism.
This year his tone has mostly been one of caution.
And now that the media is obsessed with the double-dip scenario?
Bloomberg:
“I am a huge bull on this country,” Buffett, Berkshire’s chief executive officer, said today in remarks to the Montana Economic Development Summit. “We will not have a double-dip recession at all. I see our businesses coming back almost across the board.”
...
“I’ve seen sentiment turn sour in the last three months or so, generally in the media,” Buffett said. “I don’t see that in our businesses. I see we’re employing more people than a month ago, two months ago.”
Buffett of course is extremely diversified, from finance, to housing, to rail (we noted last week that he's probably up $14 billion already on his Burlington Norther bet), so there's really no slice of the economy he can't see firsthand.
If he thinks the real economy isn't matching the rhetoric, that's to be taken seriously.
[snip]
(Excerpt) Read more at businessinsider.com ...
This is the new Rat propaganda theme: The Economy is Really Doing Very Well!
Exactly, as Buffett has gotten older it seems he’s become more of a leftwing political partisan and the Oracle of Omaha has lost much of his sheen over the past decade.
Ya, but he’d say anything to support this clown he voted for.
Hey Buffet...read “Aftershock”. Or have you already?!
Who are you gonna believe: Buffett or your lyin’ eyes?
“Buffet was a big Obama donor, and got a nice payoff with the stimulus, his word on this doesn’t mean much.”
As a corrective - he later expressed is disappointment with the Idiot-in-Chief.
The man sits on the boards of most of the companies he controls through Berkshire. This is a distinction from Ivan Boesky on insider trading. Buffett should be brought up on charges for insider trading inasmuch as he trades on the decisions he knows are being made by companies whose boards he sits. Sweet set up. And by public pronouncements like this he is shoveling crap to the market to drive his cap prices up on his holdings. He is certainly not a genius, but the lawyers who set him up in Berkshire are/were.
Sounds like pump n’dump to me ....
After all, this IS W. Buffet....and he's richer than most all of us.
Oh...by the way....did anyone inform Warren that his "Bush Tax Cut" is not going to be extended?? After all, I believe even those in congress and the executive branch would have to admit that Mr. Buffet does indeed qualify for "being one of the rich" (and therefore, pure "eeeee-vill".
I think he ought to stick to writing music and singing. I really enjoyed his “Margaritaville.”
I doesn’t lie very well.
Small businesses are much more on the cutting edge than Buffett.
Furthermore, how can we trust the opinion of a man who didn't see the insidiousness and outright evil of Obama. I used to respect Buffett but his support for Obama was the last straw.
One other thing. Just last week there was publicity of Buffett meeting with Bernanke on “how he can help” in the debt crisis. You know, get people to buy his crap to finance the printing of money the Federal Reserve is doing— in direct opposition to the Constitutional law that says Congress has the power to mint money, and print it. So there it is- the not so shadowy pal of the “real” un-challengeable government of the Federal Reserve. Thanks to “Pedro” Bernanke- former waiter at Pedro’s South of the Border. Where he is taking our country currently.
This is going to help Buffets “Death insurance” business.
Without the death tax people have no reason to buy death insurance.
So his payoff was less than expected, I would be dissappointed too.
I have had friends go on and on about how Buffet is so rich but lives so frugally and gee isn’t that nice. What they don’t understand is, he loves wealth for its own sake, and the power it brings, more than mansions, limosines, jets, yachts, etc. Personally, I trust a raging hedonistic materialist more than a power monger any day.
I would give him a LOT more slack had he not endorsed bambi, no reasonable, and well informed, person who truly cares about this country and its founding principles could do such a thing. No doubt Buffet knew all about bambi and his puppeteers, and went along with it. Very disturbing for such a “nice” man.
He was saying this months and months ago. Quoting how orders were up at his various companies, the economy was really picking up speed, etc.. The old man who cried wolf.
Now on the other hand, if voters really do hand Congress and the Senate to the GOP in November, there should be a rally just off of that and a somewhat higher market and better economy simply from Obama being put in a lockbox. (Even though his hard-core staffers will try to implement his policies by fiat rather than legislation over his last 24 months.)
Well yes, but it's not quite that simple. There are limitations to when he can buy and sell - cooling off or holding periods (like SEC Rule 144 for example). And, everything he buys or sells for companies that he actually has a board seat, are public trades - they must be published per SEC guidelines.
The CEO of any company can buy or sell stock in his own company, but it's a VERY public sale.
The title doesn't match what he actually said.
A well rewarded shill...
Remember Obama touting that $50B ‘infrastructure’ bill? Well, that included railroads which Buffet owns.
Don’t you just love ‘private/pubic partnerships’?
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