Buffet was wrong has now lost millions!

C

chaosclarity

I was listening to Bloomberg when Buffet came on to say he bought some BAC in August. Haha! At 7 per share??? Now the blasted stock is at 5.5.

I guess Buffet is doing too well nowadays between BAC and Obama. Picking losers!
 
Quote from chaosclarity:

I was listening to Bloomberg when Buffet came on to say he bought some BAC in August. Haha! At 7 per share??? Now the blasted stock is at 5.5.

I guess Buffet is doing too well nowadays between BAC and Obama. Picking losers!
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Did he sell? Link...
 
his timeframe and ur timeframe is different.
he looks at earnings in the long run.
best not to think u are smarter then a billionaire.
 
a lot of the most influential and richest investors in the 20's and 30's went broke trying to call a bottom as well. it'll be interesting to see what people think of buffet once the dow breaks through 5k. i wonder if all those puts he sold will break berkshire- that's the real question.
 
Quote from dumb_mother:

a lot of the most influential and richest investors in the 20's and 30's went broke trying to call a bottom as well. it'll be interesting to see what people think of buffet once the dow breaks through 5k. i wonder if all those puts he sold will break berkshire- that's the real question.
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Its nice they are european with no margin maintenance requirements, for Berkshire's sake. The odds are, given monetary looseness over the long run, that those puts should be at worst a break even trade.
 
Quote from chaosclarity:

Buffet was wrong has now lost millions!
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He lost a few million??!? Shit man the guys practically broke. He only has 50 thousand "million dollar bills" left.

He might be forced to liquidate 20 of his shares of berkshire. :D
 
Quote from scriabinop23:

Its nice they are european with no margin maintenance requirements, for Berkshire's sake. The odds are, given monetary looseness over the long run, that those puts should be at worst a break even trade.
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He lost billions on the roll to the 900 strikes.
 
Buffett hasn't lost a dime on this and won't.

He got preferred which will give him his guaranteed $300M dividend payments a year and he didn't pay a dime for the 700M warrants at $7.14/share or whatever it was. The warrants, which you may be referring to as his losses? were just a sweetener for him that he got as a "thank you".

Buffett doesn't lose.
 
Quote from cooolweb:

his timeframe and ur timeframe is different.
he looks at earnings in the long run.
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Good point. We should all take notice, fer example:

(Roughly speaking) WEB bought some USG back in 1998 for about $11 a share, went down to maybe 5 -6, then went up to over $100 pps, then on the way down bought some more at $40 and here we are today back down to $6+ a share. Ya have to admit 14 years later and not selling- his time frame is different.
 
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