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Buffett says recession may be worse than fear!
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evercare
Member |
29-Apr-2008 17:07
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guys, joke aside, just a word of caution, and don't be too carried away... there should be some truths in it, both sorros and buffett predicted a recession. so don't play play hor??!! | ||||
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cathylmg
Elite |
29-Apr-2008 16:59
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techsys
Master |
29-Apr-2008 16:57
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Now, I'm agree with Mr. Buffet opinion on highlighted portion 
That's how we make money properly ... we threaten others to sell .. take advantage .. and when others optimist, we sell to them to have their money ...
We buy from others to have others money ... |
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cathylmg
Elite |
29-Apr-2008 16:53
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That is how all these big shots make money. Buy on fear. No fear? Create fear factor. Then buy on fear. Just when you have sold off everything, they will tell you market turns bullish. That is when they sell off all the shares. | ||||
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Alligator
Veteran |
29-Apr-2008 16:51
Yells: "learning from past " |
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read what he said not too long ago: if big financial institutions don't seem to know what's in their portfolios, how will investors ever know when it's safe? They can't, they can't. They've got to, in effect, try to read the DNA of the people running the companies. But I say that in any large financial organization, the CEO has to be the chief risk officer. I'm the chief risk officer at Berkshire. I think I know my limits in terms of how much I can sort of process. And the worst thing you can have is models and spreadsheets. I mean, at Salomon, they had all these models, and you know, they fell apart. What should we say to investors now? The answer is you don't want investors to think that what they read today is important in terms of their investment strategy. Their investment strategy should factor in that (a) if you knew what was going to happen in the economy, you still wouldn't necessarily know what was going to happen in the stock market. And (b) they can't pick stocks that are better than average. Stocks are a good thing to own over time. There's only two things you can do wrong: You can buy the wrong ones, and you can buy or sell them at the wrong time. And the truth is you never need to sell them, basically. But they could buy a cross section of American industry, and if a cross section of American industry doesn't work, certainly trying to pick the little beauties here and there isn't going to work either. Then they just have to worry about getting greedy. You know, I always say you should get greedy when others are fearful and fearful when others are greedy. But that's too much to expect. Of course, you shouldn't get greedy when others get greedy and fearful when others get fearful. At a minimum, try to stay away from that. By your rule, now seems like a good time to be greedy. People are pretty fearful. You're right. They are going in that direction. That's why stocks are cheaper. Stocks are a better buy today than they were a year ago. Or three years ago. But you're still bullish about the U.S. for the long term? The American economy is going to do fine. But it won't do fine every year and every week and every month. I mean, if you don't believe that, forget about buying stocks anyway. But it stands to reason. I mean, we get more productive every year, you know. It's a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.  |
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evercare
Member |
29-Apr-2008 16:50
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ya man, who dares win! take position today or tomorrow if you dare, and wait for the news on wed. if gdp and fed news turn out to be positive, certainly you will win big! but unfortunately, i don't dare.
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sarahlkh
Senior |
29-Apr-2008 16:48
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isn't it ironic on one side he says recession a deeper one, on the other side he buys a consumer related co. thus meaning that he is also optimistic in the long run that consumer confidence would return. if economy is going down, then less people would consume gums? 
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techsys
Master |
29-Apr-2008 16:24
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I'm not totally agree with Mr. Buffet, but I will be extra carefull to invest my money. All market indicator is waiting for something now. Future, Gold, Forex and some US Index is moving sideways. Need to wait until market signal is clear. But risk player may take this benefit. |
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tangkwongsoon
Member |
29-Apr-2008 15:46
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Hi uncle AK, I am new here. Interesting and funny to read some of your posting. Is "Big Wok" = "OR LUN 炒河粉!!!"
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nickyng
Supreme |
29-Apr-2008 15:20
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haha...Fear will create Opportunities for me :) cheers ! |
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cathylmg
Elite |
29-Apr-2008 14:59
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Yeah. Create fear. How very true.
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cyjjerry85
Elite |
29-Apr-2008 14:53
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actually he has alot of books written on how he purchase stocks and if i dun remember wrongly in one of his article...he will buy when there's fear and ppl selling...probably he is preaching wad he said? by creating fear so he can buy
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sarahlkh
Senior |
29-Apr-2008 14:49
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well i strongly believe that he is not going to tell us how to make money :) | ||||
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cathylmg
Elite |
29-Apr-2008 12:11
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I tend to agree with you. And I don't trust him.
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sarahlkh
Senior |
29-Apr-2008 11:45
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it is going to be a long range issue to dig US out from the slump. thus the slump is good time to enter. like for buffett he is still taking the opportunity to bargain hunt when the times are bad. | ||||
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cathylmg
Elite |
29-Apr-2008 10:40
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Must think how they want us to react when they say things like that. In whos interest it should be when we react in the way they want us to? | ||||
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evercare
Member |
29-Apr-2008 00:36
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uncle ak, just wonder why sorros and buffet remarks didn't really cause the market to pull back? On the contrary, still cheonging like no body business. at times just hope that they don't open their BIG mouths to cause market uncertainties. looks like we are facing some market correction real soon. 
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des_khor
Supreme |
29-Apr-2008 00:34
Yells: "Tell me who is the God or MFT from this forum??" |
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he is giving out FOC Buffet it is ??? | ||||
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AK_Francis
Supreme |
29-Apr-2008 00:23
Yells: "Happy go lucky, cheers." |
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Big wok, chewing gum, confirm not for Spore loh. No one will invest on it leow, sure kena black marked ah. | ||||
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evercare
Member |
29-Apr-2008 00:10
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Should we listen when Warren Bufffet says? Warren Buffett, the world's richest person, said on Monday April 28, 2008, the U.S. economy is in a recession that will be more severe than most people expect. Buffett made his comments on CNBC television after his Berkshire Hathaway agreed to invest $6.5 billion in the takeover of chewing gum maker Wm Wrigley Jr Co. by Mars Inc in a $23 billion transaction. "This is not a field of specialty for me, but my general feeling is that the recession will be longer and deeper than most people think," Buffett said. "This will not be short and shallow. "I think consumers are feeling gas and food prices," he added, "and not feeling they've got a lot of money for other things." 
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