Buffett has never produced a thing in his life, not even Kirby vacuum cleaners. He just buys large blocks of stock to manipulate the market.
Some years ago, I let a vacuum salesman into my house when he promised to sweep my whole house and give me a book of postage stamps. He dumped a box of soda on the floor and vacuumed it up, and then proceeded to give me a long, poorly memorized sales pitch. I told him to give me the stamps and get the hell out of my house. He tried to weasel so I told him I would call the cops if he didn’t give me the stamps he promised. He handed them over and on his way out said, “I gotta make a living, ya know”. Then he drove off in his junk car and went straight to my neighbors. he was not Warren Buffett.
[ Buffett has never produced a thing in his life, not even Kirby vacuum cleaners. He just buys large blocks of stock to manipulate the market. ]
Buffett is a great reason why the Stock market needs serious reform, and not thousands of pages of new regulations, but instead simple rules that place the stock market back into the realm of mid to long term investment and the supplying of capital to growing busineses.
Replace the current plethra of regs with a few simple rules.
1. Stock trading only can take place during a 1 week window ever quarter.
2. Once you buy a stock you have to hold onto it for at least 1 year or longer depending on if the company wants to extend that period, but they cannot shorten to less than 1 year.
3. All company quarterly earning statements must take place at least 1 week before the “trading window” each quarter.
4. Stock brokers may place orders for stocks before the window, but they will take place only when the window opens, and the volume of stock waiting to be bought/sold must be disclosed 24 hours before the window opens.
Just a few simple rules, would be all it would take to cut down onthe manipulation of all that crap...
Also for places like the chicago board of trade that deal with “commodities”, if they want to trade 1 million bushels of corn, they gotta take deliver of the damn stuff, not just push the god damned paper around.