We know Warren can not be wrong... He simply can not, otherwise all those official and unofficial biographers will have to join NY's investment bankers in finding a regular job (there are 4,291 hits in Amazon.com to a "Warren Buffett" query). So we merely attribute this temporary bout of insanity to his distress from the news earlier about Becky Quick's wedding.Sphere: Related Content Print this post
Monday, January 19, 2009
Posted by Tyler Durden at 9:16 PM
In what some might consider a minor case of about-face and an even more minor case of hypocrisy, the Oracle of Omaha is quoted by Reuters as saying the stimulus plan under consideration by the U.S. government is not enough to reverse the economic decline, and that the $700 billion TARP has been implemented in a "haphazard and capricious way" and "without proper planning." Mmmk, so if the government, which is throwing every taxpayer's kitchen sink at the house of cards that is the global financial system is not enough, then what is? And what happened to the NYT (Death Watch, CDS: 956) clarion call of "Buy American. I am." Granted, the underlying logic behind the motivation to buy then was "be fearful when others are greedy, and be greedy when others are fearful." Well that's a nice soundbite, and a good mantra for one's Vinayasa yoga class, but what should investors do now besides scratch their heads.