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Oct 17 2008

Things That Make Comrade PhysioProf Go “Hmm”

From Bloomberg today:

Warren Buffett said he’s buying U.S. stocks and, if prices stay attractive, his personal investments, as distinct from his stake in Berkshire Hathaway Inc., will soon be wholly in American equities.

* * *

Buffett, ranked the richest American by Forbes magazine, has committed at least $28 billion this year to acquire companies, finance buyouts and purchase securities for Berkshire as the contraction in global credit markets drove down stock prices and sent firms searching for funds.

The dude who probably is long on more motherfucking American stock than anyone on the entire motherfucking planet is telling everyone else to buy.

8 comments

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  1. 1
    juniorprof

    No COI statement needed

  2. 2
    bikemonkey

    oh come on. Next thing you’ll be telling us Soros engineered this whole thing to depose the Republicans!

  3. 3
    Anonymoustache

    It does not appear good—as it didn’t when he was clanging the bell for the bailout. However, Warren Buffett is one of those rare investors who, based on his track record (of appealing for fairness in taxation, for instance) merits some benefit of the doubt. Sure a significant piece of his ass is on the line, but I do think he has the larger interest of the nation’s economy at heart. When a dude repeatedly argues for a tax basis that would cost him billions, then follows it up by donating 25 billion or so to a charitable foundation, he kinda earns trust, don’t you think?

  4. 4
    J

    @anonymoustache

    True story.

    Too bad the money he donated to Gates Found. is being spent on (in this researchers’ humble opinion) backwards-looking green-revolution agriculture of the type that’s bankrupting the earth already and is unsustainable, not to mention tends to hurt small farmers in the long run.

    But that’s a different story, I suppose.

  5. 5
    bikemonkey

    He fancies himself as J P Morgan. (the man, not the bank, kids)

  6. 6
    unbalanced reaction

    During times like these, I’m almost happy not to have any money.

  7. 7
    juniorprof

    During times like these, I’m almost happy not to have any money

    Whether you have any money or not, if you’re more than 15-20 years out from retirement there is a good chance that you are going to get a heck of a deal on discount stocks in your retirement accounts for some time. If it never turns around, I’m gonna guess that those losses won’t matter much either way due to runaway inflation, etc., so its either a win for you or a complete and utter fucking loss which could be so severe that you won’t give a flying fuck about that money.

    When a dude repeatedly argues for a tax basis that would cost him billions, then follows it up by donating 25 billion or so to a charitable foundation, he kinda earns trust, don’t you think?

    Which is why he is the one investor that does not need a COI! Investing in America now is the only way we come out of this with a fighting chance to stay on top. Let’s hope the coming govt understands this as well…

  8. 8
    George Smiley

    jp, you’re reading my futhermuckin’ mind. I am concerned, however, about the distinct possibility that the Cannibal Hordes will make even your most dire speculations look like a Saturday picnic.

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