The Oracle is short large quantities of equity puts. Why would you expect him to say anything different? Not a criticism of Mr. Oracle, by the way, as he at least has skin in the game.
Buffet says buy equities but gives no good argument!!!!!
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The Oracle is short large quantities of equity puts. Why would you expect him to say anything different? Not a criticism of Mr. Oracle, by the way, as he at least has skin in the game.
couldn't agree with you more. the buffett fans tend to be focused on the system created by accountants and politicians and yet ignore what the market says, they WANT to believe buffett is untouchable and cant lose in a down year. if BRKB kept their books on a real mark to market basis, it would be trading at much lower, he would be posting 'writedowns' left and right
If he had taken AXP private he would be showing almost no losses, since its a stock hes getting killed
His stock tanked then because market thought they are going to buy it cheaper later. Prices always are more volatile than fundamentals. GAAP made him have a winning year? Do you think itâs possible to make it from an initial 10 thousand dollar investment to 60 billion using GAAP to fool people for 5 decades? Why then, not everybody is doing it? Donât they have a motive to make it to forbes 400?
I'm not critizing buffett. far from it, I'm making an observation. its gaap that made buffett not have losing years. As I understand he only needs to writedown his sees candy stake(through decreasing the 'goodwill' or book value) if he and the board believes the stake is worth less so a lot of the 'book value' is at his discretion.
if Sees were a public stock it would have tanked along with everything else and he would've taken writedowns.
Quote from riskfreetrading:
You seem to have a mind enslaved by the Jewish people. All three are Jews. You call them the smarest guys, when you have the evidence that they are not. And what proof you have that they are not the dumbest guys in the room?
The smarest guys in the room are other people. RFT is leading them!
NOT TRUE !!! Kerkorian is Armenian, Christian. If you can ever find an Armenian Jew good luck.
A destruction of wealth (like in WWII) is never the cause of a bull market.
Read chapters "The broken window" and "The Blessings of Destruction" from Henry Hazlitt's book to see why.
http://jim.com/econ/chap02p1.html