Wednesday, November 17, 2010

Pretty good for Government work

Warren Buffett said "thanks" to the US Government for acting with courage to tackle the financial crisis:

What an excellent letter from a great person!


Lye Khuen Way said...

Woh ! A un-baised feedback from Mr Buffet on his government.
Wonder when, anyone of us, great or just a man-in-the-street could say a "thank-you" to the government of the day in all sincerity ?

Kenny said...

The last second and third paragrah are a warning to us Singaporeans.
In truth, almost all of the country became possessed by the idea that home prices could never fall significantly.

That was a mass delusion, reinforced by rapidly rising prices that discredited the few skeptics who warned of trouble. Delusions, whether about tulips or Internet stocks, produce bubbles. And when bubbles pop, they can generate waves of trouble that hit shores far from their origin. This bubble was a doozy and its pop was felt around the world.

Bai Hu said...

Congratulating USA for what? Tackling the financial crisis by printing more money? And then causing more worldwide inflation?

Redstar said...

Ha, what about this?

" ... Not surprisingly, Buffett had a hand in the bailouts (but don’t let the mainstream media tell you that). During the height of the credit crisis, Buffett sent Hank Paulson an interesting letter which I have attached. The letter is priceless. Not only does Buffett again take potshots at hedge fund managers (those bastards and their fees!), but he describes personal conversations with Bill Gross and Lloyd Blankfein about how they would all contribute to the bank bailout. Of course, Buffett was talking his book. He knew what was at stake. But it all makes me wonder – was the great Warren Buffett bailed out? Did genius nearly fail? Or has the myth of Warren’s genius failed us all? I have no idea, but what I am certain of is that the media’s misportrayal of Warren Buffett has been astounding and perhaps even damaging to the small investor.

Warren Buffett is a great American and a great investor, but do your homework before investing in the stock market with the idea that you will one day sit atop the throne of “world’s richest man”. It just isn’t that easy despite what Wall Street will have you believe ... "


Blog Archive