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Buffett: I See A Huge Recovery Across All Of Our Businesses Happening Right Now
The Business Insider ^ | 9-13-2010 | Joe Weisenthal

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 ...


TOPICS: News/Current Events
KEYWORDS: buffet; business; economy; recovery
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To: blam

Must have missed that eye exam again.


41 posted on 09/13/2010 11:34:57 AM PDT by KnutKase (VRWC member since 1988)
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To: blam

So in late 2008, when it became obvious that Obama was most likely going to win the election, the economy collapsed.

In late 2010, now that it’s obvious that Republicans are going to win the election, the economy is recovering.

Coincidence?


42 posted on 09/13/2010 11:35:28 AM PDT by TennesseeProfessor
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To: blam

I’ll have two of whatever Warren’s drinking.


43 posted on 09/13/2010 11:36:04 AM PDT by GunningForTheBuddha ("RINOs, shoo")
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To: 2 Kool 2 Be 4-Gotten

Or rope a dope...


44 posted on 09/13/2010 11:36:42 AM PDT by Ev Reeman
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To: blam

Buffet is a parasite who has never produced anything. He’s comparable to Soros. No wonder he’s shilling for Obama.


45 posted on 09/13/2010 11:38:15 AM PDT by ozzymandus
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To: HerrBlucher

Buffet is also an ardent eugenicist, sort of like John D. Rockefeller Jr. was. These philanthropist are very much into holding their grip on society and keeping upstarts in their place.


46 posted on 09/13/2010 11:39:24 AM PDT by RobbyS (Pray with the suffering souls.)
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To: blam

Whoa! I read the title and thought it was referring to Jimmy, and that he must be visiting Margaritaville again.........


47 posted on 09/13/2010 11:39:35 AM PDT by OB1kNOb (Contrary to popular belief, America is separated by class.... the political class and all others.)
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To: blam

Let’s see. Buffett was one of Obama’s unabashed supporters and financial advisors and we have a election coming up in a few weeks. No bias there.


48 posted on 09/13/2010 11:41:07 AM PDT by rod1
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To: RobbyS

That I did not know, the picture becomes even more clear....ugh.


49 posted on 09/13/2010 11:45:29 AM PDT by HerrBlucher (In the White House the mighty White House the Liar sleeps tonight.............)
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To: longtermmemmory

Since when does BRK sell death insurance?

Geico is auto insurance, Berkshire Hathaway is commercial liability, and General Re is supercat. Or so I thought...


50 posted on 09/13/2010 11:45:48 AM PDT by oblomov
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To: Choose Ye This Day
You usually can’t go too far wrong betting against the herd and the media. When they say everything’s coming up roses and sunshine (as they were in 1999 and 2006), it’s probably time to get sell. When they say it’s all doom and gloom, it’s a great time to buy.

In essence, this is how Buffet works. He is the quintessential buy low sell high investor. When a feeding frenzy starts, he heads for the door. When things bottom out, he gets in.

51 posted on 09/13/2010 11:46:02 AM PDT by IamConservative (Two wrongs don't make a right, but you might get even.)
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To: blam

Wasting Away Again in Margaritaville... All Buffetts must hang there...


52 posted on 09/13/2010 11:48:16 AM PDT by Yaelle
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To: ozzymandus

Buffy should buy Sorass and suicide him.
Then deport illegal Kenyan and all uhappy mu-slimes.
Then we would pay series attention to his wisdom.


53 posted on 09/13/2010 11:52:28 AM PDT by Leo Carpathian (fffffFRrrreeeeepppeeee-ssed!)
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To: blam

How embarrassing...these ideologues will destroy their credibility and reputations to further the leftist agenda.

Selfish jerks.


54 posted on 09/13/2010 11:54:30 AM PDT by BlessingsofLiberty (Remember 911 *** God Bless Our Troops)
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To: John S Mosby

“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.”

That is incorrect. He owns the companies through Berkshire. He doesn’t trade on the info, he already owns them outright. Insider trading would be if he was buying or selling Berkshire shares based on inside info re Berkshire and it’s holdings...which he does not do.


55 posted on 09/13/2010 11:56:22 AM PDT by Bogeygolfer
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To: blam

Sure you are Warren. Still in the bag for 0.


56 posted on 09/13/2010 11:58:25 AM PDT by mad_as_he$$ (Playing by the rules only works if both sides do it!)
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To: blam

Buffet gives nothing away for free. There is a payoff to him for saying this.


57 posted on 09/13/2010 11:59:01 AM PDT by DManA
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To: blam
The way I feel about Buffett is that he is a parasite who feeds on that which has been produced by bright and hardworking people. Has he ever invented anything? Has he come up with any new hypothesis or innovative way of thinking? Is he a craftsman, artist, or producer of anything? Can he diagnose or treat you if you are sick? Etc. etc.

I don't want to hear how ‘entrepreneurial’ he was, or how well he did in business school. I'm entirely unimpressed. He's just another financial parasite who had a rich father and the right connections. If he was really bright he wouldn't be an Obama supporter.

58 posted on 09/13/2010 12:07:43 PM PDT by pieceofthepuzzle
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To: pieceofthepuzzle
Is he (Buffett) a craftsman, artist, or producer of anything?

A producer of wealth, as many who have benefited from his financial acumen will attest. Buffett has remained modest all these many years, still living in the unassuming home he purchased years ago. Although I don't agree with his politics, he is a self made man who worked hard and diligently to achieve his success. Nothing was given to him, he earned it.

59 posted on 09/13/2010 12:29:01 PM PDT by BluH2o
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To: blam

Warren the piggy..

http://www.youtube.com/watch?v=IHei4OrwT2o


60 posted on 09/13/2010 12:33:54 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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