Warren Buffett editorial in NYT: Buy American. I Am.
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Re: Warren Buffett editorial in NYT: Buy American. I Am.
#2Short summary:
"Time to talk up the market. I have already placed the money I wanted to place while it was down." :)
Re: Warren Buffett editorial in NYT: Buy American. I Am.
#3Short summary: "Time to talk up the market. I have already placed the money I wanted to place while it was down." :)
Not merely nasty, but false as well. He says explicitly that he hasn't finished buying.
Re: Warren Buffett editorial in NYT: Buy American. I Am.
#4Be fearful when others are greedy, and be greedy when others are fearful
Excellent advice.
Buffett walks in great footsteps here. Wasn't it J.P. Getty that came out during the depression and said something like "Buy stocks. We're buying as much as we possibly can." ( I paraphrase from memory here)
Re: Warren Buffett editorial in NYT: Buy American. I Am.
#5[deleted]
Re: Warren Buffett editorial in NYT: Buy American. I Am.
#6Short summary: "Time to talk up the market. I have already placed the money I wanted to place while it was down." :)
It's good to be skeptical when reading commentaries, but it's better, when you're skeptical, to make more of a case than simply a slogan.
As I recall, Buffett went heavily into precious metals and bonds over the past few years. Now he's puling that money out and going to the market. Everybody else is buying precious metals because they're scared and selling their stocks. Looks damn smart to me.
Re: Warren Buffett editorial in NYT: Buy American. I Am.
#7I bet he's gettin something on the side to basically step into the ring of fear here and fire the flare of "now's the time". I don't think people really dispute that now is the time. The problem is the view point.
You basically have to put money in and swear not to look at it again until 2013. Because the day by day view of that investment is heart attack unfolding as the bad news isn't going away, the affects of the 700 billion dollar crisis, job losses, sub prime this, abused and reckless that, and so on is going to be on the fear radar for a bit.
You whacked the consumer with $140 oil a few months back saying hard times are ahead, and then you backed it up with current credit crisis, and then you watched wallstreet get bought by the government as everyone in their money proceeded to get to cash as fast as they could. You've told the consumer to stop spending get back to basics and thats happening.
Folks in lots of cash, aka Buffet are in hog heaven right now. He can throw a bunch of money in, go back in cryogenic freeze with Elvis and pop back out in 2013 or so and bathe himself in cristal. Day traders hanging out with cash are making by the minute deals only to cash out and get back in on the highs and lows of the game, cautiously as they are, they are doing that.
If you have funds to play, play, or throw it in there and rent out buffets cryo chamber, probably a good bet really.
Re: Warren Buffett editorial in NYT: Buy American. I Am.
#8[deleted]
Number 1 would almost certainly cause some kind of war.
Re: Warren Buffett editorial in NYT: Buy American. I Am.
#9[deleted]
Number 1 would almost certainly cause some kind of war.
In 1930 Congress passed http://en.wikipedia.org/wiki/Hawley-Smoot Tarriff Act
Did it work?
Anyone? Anyone?
No, it did not work, and US sled deeper into Great Depression.
Re: Warren Buffett editorial in NYT: Buy American. I Am.
#10I bet he's gettin something on the side to basically step into the ring of fear here and fire the flare of "now's the time". I don't think people really dispute that now is the time. The problem is the view point. You basically have to put money in and swear not to look at it again until 2013. Because the day by day view of that investment is heart attack unfolding as the bad news isn't going away, the affects of the…
I mostly agree. You have two choices with buying American stocks now: 1 - play the day trade game and squeeze out margins as the market is wild from day to day 2 - play long, buy great deals and hold for years.
The only people that can play option 1 well are serious traders that have tons of time, cash, and really know what they're doing (or just have dumb luck, but applies to anything you might do with money).
The only people that can play option 2 well are serious investors that have people that work for them to analyze which are best long term buys and mange them, oh yeah, and also have lots of cash on hand; cash you don't need to use a for a long time.
So although I do try to pay attention to when people like Buffet dish out advice, I also understand that few can play at his game.