Warren Buffett editorial in NYT: Buy American. I Am.

Post by [deleted] » Mon, Oct 20, 2008, 2:51 AM UTC

SwellJoe wrote: post #55

aaronblohowiak wrote: post #44

Earlier quoted context omitted.

[citation needed] - he wasn't a crooked thief. There is a surprising lack of scandal surrounding him (i'm not one to care what consenting adults do in privacy.) He is a substantial philanthropist and value-based investor.

I'm not sure I understand how a lack of badness equals "making investment decisions based on altruism", or how they can be conflated in any way. The way I'm reading the "debate" here is ca98am79 saying, "Buffett has no history of investing for altruistic reasons. He invests to make money, and is the most successful person in the world at doing so." And you're saying, "Stop calling Buffett a crook! He's a value invest…

[deleted]

Post by richcollins » Mon, Oct 20, 2008, 5:34 AM UTC

ksvs wrote: post #48

richcollins wrote: post #29

Had you followed that advice after the Japanese crash of 1990, you would still be down almost 75%: http://finance.google.com/finance?q=^N225

He's not saying buy stocks after any crash, just after this one. The Japanese crash was a unique one because a corrupt old boy network of companies holding one another's stock and banks refusing to write off bad debt caused the fall to be artificially prolonged.

What do you think is happening now? The banks aren't willing to write off bad debt if they can stay afloat. As a result, they aren't willing to lend to each other. None of the banks wants to make a loan to another bank that will just go under due to their holdings of bad debt.

If the banks holding bad debt were allowed to fail, this would all be sorted out much faster.

Re: Warren Buffett editorial in NYT: Buy American. I Am.

Re: Warren Buffett editorial in NYT: Buy American. I Am.