I have admired him since approximately 1996, and own a bunch of his company shares since 1997, in fact I have 96% of my stock investments in Berkshire. So here's a very insightful interview where he explains the need for bailout.
``Charlie Rose: What's all this going to do to the price of the dollar?
Warren Buffett: It could be very tough on -- inflation could be a very
-- is a likely consequence out of what's going on now. Right now, we are in effect making a -- to some extent, making a choice between future inflation and getting our -- getting off the floor. And we're likely -- we're likely to have more inflation in the future as a consequence of the things we do to fight the present situation.''
Should you have the chance, listen in on or read what John Gutfreund has had to say in the last year about this mess. The company he lead was one of the principals that got this rolling. They "invented" mortgage backed securities.
I saw an article where he said if the bailout doesn't happen his buying of various interests recently will make him look stupid. He has skin in the game.
Wes
-- "Additionally as a security officer, I carry a gun to protect government officials but my life isn't worth protecting at home in their eyes." Dick Anthony Heller
Remember the people who had 96% in Enron? It pays to diversify.
Free men own guns - www(dot)geocities(dot)com/CapitolHill/5357/
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Hmmm, interesting diversification policy. :)
Although with WB at the helm, you're probably as safe as you could possibly hope for.
Keep in mind that Buffett has 99% of his money in Berkshire also. So he is not one of those people who manage "other people's money" with no downside for themselves.
I think that businesswise, he manages risk a lot better than I do. As for fluctuations in his stock price in relaqtion to the value of the business, I do not care too much. What I know is that I will not lose everything. I do not think that what I am doing, is stupid. And I have other assets besides berkshire, just not in stocks, such as house, cash, euros etc.
At $138,500.00 a share, it wouldn't take many to make a bunch.
I believe Iggy has his in B shares.
Wes
Berkshire is diversified. The comparison to Enron doesn't wash.
They have "B Shares" for 30 times less.
Yep...
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