Warren Buffet expects US to be nuked.

[TriPack]

Originally posted by liltrdr
Buffet is a big holder of insurance stocks. Is that why he came out w/ such a statement? Hell yes!!! This guy's shady as fuck. The markets are skittish, people are frightened and he's trying to pump up his stocks.

If they did insure for something like that they would probably be out of business. 9/11 hit several large reinsurance companies very hard.

 

[Cdntrader]

Originally posted by liltrdr
Maybe it's just the logical conclusion. But it's nothing that needs to be said out loud. He's like a Greenspan. For whatever reason, people pay attention to him and he moves the markets. I don't question his statements. A nuclear attack is probable. I just take issue w/ stating that in a public forum. My best guess is that he wanted to move the market lower in order to accumulate some shares. Incidentally, the S&P dropped twenty points yesterday. When was the actual interview?

I saw it first on drudgereport.com midday.

 

[metal1]

like someone said he is a huge insurance company owner. he stated he made a mistake by underestimating current risks and the NY attack cost his companies 2 billion in claims. also said he needs to increase premiums to cover against future risks.

 

[Commisso]

Originally posted by MainFramer

I pray it never happens, but can anyone speak to NYSE's diaster recovery plans? I know NASDAQ is a distributed systems, but how distributed is it?

If NY gets hit with a nuke you are gonna have much bigger problems than not being able to trade for a while...

 

[Turlo]

The technology is out there. I think that he was simply stating the obvious. Eventually that technology is going to get into the wrong hands.

Iraq and Iran both have nuclear programs. 20 years ago they didn't know what a tv was..........

I think that he was saying that in 20 years many things can change.........

 

[just21]

how did this guy get so rich being so negative? I always thought americans were positive thinkers. I think he is wrong, it definetly won't be state sponsored as that state would not exist after attacking the us. Mutually assured destruction, I wondered if the nihilists have heard of that?

 

[metooxx]

Originally posted by Turlo
The technology is out there. I think that he was simply stating the obvious. Eventually that technology is going to get into the wrong hands.

Iraq and Iran both have nuclear programs. 20 years ago they didn't know what a tv was..........

I think that he was saying that in 20 years many things can change.........

I think we are past that point ...

 

[theShadow]

...

 

[Biomech]

Originally posted by just21
how did this guy get so rich being so negative?

He got so rich because he has unbelievable clarity of vision, an uncanny ability to insert himself into the right place at the right time, and an ability not only to admit when he is wrong, but admit it in his yearly letters to his stockholders.

I would guess that he spoke up about the nuke issue because he doesn't think people are spending enough effort trying to prevent it. That's usually his motivation for saying something. He isn't known for market manipulation.

 

[Magna]

Originally posted by liltrdr
Buffet is a big holder of insurance stocks. Is that why he came out w/ such a statement? Hell yes....he's trying to pump up his stocks.

Not. In fact, since the losses on 9/11, his holding company Berkshire Hathaway has a clause for all policies excluding damages caused by nuclear, chemical and biological. So speaking his mind on a very real concern does absolutely nothing to "pump up" his stocks.