Rant at my boss! I’m letting my puppet indulge in negativism!

Warren Buffet speaks - at my command, of course.

In his eagerly-anticipated annual letter to Berkshire shareholders, Buffett also offered a gloomy economic outlook, saying “the economy will be in shambles throughout 2009 — and for that matter, probably well beyond.”

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9 responses to “Rant at my boss! I’m letting my puppet indulge in negativism!

  1. Peg

    I’m hoping that the loss of ten plus billion will not prevent Warren from showing up at the bridge table. My bet is that it is in the cards for Warren to be a competitor!

  2. kidding really?

    The “story of 2009″ will be Warren Buffett going down with Berkshire Hathaway. The man who warned everyone about the dangers of derivatives is one of the big derivative players who will have to admit the truth on his balance sheet soon. The man is not the typical investor’s friend and I look forward to when they pull back the curtain.

    One more thing… when he says “My secretary pays more in tax than I do” – That is because he borrows against his stock and writes off the interest. Sound familiar? And he has the nerve to say American’s need to pay more in taxes.

  3. anonymous

    Warren’s record over past 10 yrs is rather underwhelming and hypocritical…esp for someone who gets sweetheart “endorsement” deals, given his brand value amongst the clueless masses

    Let’s not forget his best pal, another pseudo-philanthropist who’s giving away billions earned selling poorly engineered, buggy software…..guilt by association…both goofballs use charities to fool media and masses….as they try to launder their technically weak reputations among their industry peers

  4. SizeBuyer

    market went up he went up market went down he went down

  5. Scotia

    Thats a bit harsh. He’s been right more than he has been wrong and if you read his newsletters he freely fesses up to his mistakes – how many movers and shakers have done that? I respect him for that. He notes the huge bubble in treasuries and also the bad influence of financial models. He also says that America’s best years are ahead of us. And I agree with that too.

    • christopherfountain

      I’m with you, Scotia. He may have gone up when the market went up but not many followed him so high. I’d say my money is on Buffet doing just splendidly in the future, but I don’t think I can afford his stock, yet. Still, despite his inanity when it comes to wanting to tax me, I admire him greatly – certainly more than most of the other Wall Street jackals of the past – Smiling Jack Gallagher, Chainsaw Al, or Dick Fuld all come to mind.

  6. Scotia

    Whats pseudo-philanthropy about giving away your net worth and asking it to be spent in your lifetime BTW? The man has lived in the same modest house for 50 years. Time will tell if his investments have been poor in the last 10 years. I would never bet against America and I sure wouldn’t bet against Warren Buffet in the long run. Much as Bill Gates has been vilified – indeed some of it quite rightly so – what enormous good he has done. I wish I could say the same of myself.

  7. Retired IB'er

    The only thing that makes me wonder whether Warren has lost a step or two is his investment in Conoco at the height of the oil bubble. Seemed pretty obvious to me that oil was heading south big time from its peak levels….

    Still, his losing a step still puts him head and shoulders above most mortals (like me).

  8. Anonymous

    There’s a Class B which is a little more affordable – I think around $2,500 per share as opposed to $75K +