Buffet in 2002

[ShoeshineBoy]

It's interesting: Buffett in 2003 predicted with remarkable clarity all that is happening today. As usual he nailed the future with remarkable accuracy. Was his prediction easy to foresee? Could any of us done it? Or was he a raving financial genius?

http://money.cnn.com/magazines/fortune/fortune_archive/2003/11/10/352872/index.htm

 

[blackchip]

He posted the same stuff in his annual reports.

And yes he is a raving financial genius. His record is no quirk.

 

[GodsGift]

This is another great example of people holding this guy up on an unjustified pedastal.

Yes, Buffet has been bearish on the dollar because of the trade deficit for some time.

Yes, his timing sucked (he was bearing in 87). And yes, he admits it.

But, in 2002 (when the artice was published) he bet big on on the euro and lost his ass and a ton of Berkshire's money.

Am I the only one on this board who recalls them making billions and then losing it all and then some - and then Buffett going public about, "derivative being weapons of financial mass destruction"??

Come on, I'm a young guy. Someone besides me must recall this.

 

[ShoeshineBoy]

Quote from GodsGift:

This is another great example of people holding this guy up on an unjustified pedastal.

Yes, Buffet has been bearish on the dollar because of the trade deficit for some time.

Yes, his timing sucked (he was bearing in 87). And yes, he admits it.

But, in 2002 (when the artice was published) he bet big on on the euro and lost his ass and a ton of Berkshire's money.

Am I the only one on this board who recalls them making billions and then losing it all and then some - and then Buffett going public about, "derivative being weapons of financial mass destruction"??

Come on, I'm a young guy. Someone besides me must recall this.

Doesn't matter how old you are really. Looks like he said this in 2003?

http://news.bbc.co.uk/2/hi/business/2817995.stm

 

[ShoeshineBoy]

Quote from GodsGift:

This is another great example of people holding this guy up on an unjustified pedastal.

Yes, Buffet has been bearish on the dollar because of the trade deficit for some time.

Yes, his timing sucked (he was bearing in 87). And yes, he admits it.

But, in 2002 (when the artice was published) he bet big on on the euro and lost his ass and a ton of Berkshire's money.

Am I the only one on this board who recalls them making billions and then losing it all and then some - and then Buffett going public about, "derivative being weapons of financial mass destruction"??

Come on, I'm a young guy. Someone besides me must recall this.

And the guy can't be all bad. He likes baseball and BBQ:

"In marked contrast to the hubris of former managers at fallen firms like Enron and WorldCom, Mr Buffett is known for his down-to-earth style, summoning shareholders not to glitzy hotels but "Berkshire backyard barbecues" and baseball games in out-of-the-way Omaha, Nebraska. "