I know some of you dislike Warren because of his political leanings. All that aside, the man is a living icon. Although aging and his performance at Berkshire has been less than optimal, you’ve got to both love and admire his ceaseless optimism for America.
“For 240 years it’s been a terrible mistake to bet against America, and now is no time to start,” Buffett said. “America’s golden goose of commerce and innovation will continue to lay more and larger eggs.”
The 2015 Berkshire Hathaway annual letter can be read here.
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Long live the King!
but this was the best bit…..call this Noah’s Law: If an ark may be essential for survival, begin building it today, no matter how cloudless the skies appear…
does he use exodus as well?
Okay. No Devil Dog stuff from Uncle Warren.
Paul Krugman pointed out today that the Fed “shouldn’t be raising rates until it sees the whites of inflation’s eyes.”
http://krugman.blogs.nytimes.com/2016/02/27/the-cases-for-public-investment/?module=BlogPost-ReadMore&version=Blog%20Main&action=Click&contentCollection=Opinion&pgtype=Blogs®ion=Body&_r=0#more-39611
thx Frog for posting that up…. been harping on about a coordinated global infrastructure spend … Ontario just announced this type of Spending in the Budget tabled this week…Ottawa expected to do the same in the Budget due the end of March..Alberta is doing a similar thing as well but more specifically targeting the downstream OG space
This is what’s up.. Global infrastructure build. Think about all the exponentially compounding technology shit going on and upgrades needed.
@Moosh a new dawn is approaching electric cars, renewable energy, etc etc…. will we need more commodities or fewer commodities? Which ones will need a lot more of and which ones will we no longer use quite as much of……
1/20/16…. that was the turn for the commodities
Always impressed by how honest he is. Most other CEO’s never talk about mistakes or things that aren’t working.
frikken maggot imo
It’s true. For the most part anyone who can moves to America to make it. No where else is there a pool of such talent and drive. If you are Chinese, Russian, French or Martian and you are skilled enough to get in you go. America is the silicon Valley of the world.
Bill Maher’s foul mouthed future State of the Union address. Funny stuff.
http://www.real-time-with-bill-maher-blog.com/index/2016/2/27/new-rule-crass-warfare
Starting to see puff pieces about falling mortgage rates. The can, it has been kicked.
Paul Krugman is a statist keynesian apparatchik, period. He endeavors to convince people that economics is far more complicated than they can comprehend, and requires continuous abuse of calculus in the name of “wonkery”. It’s all bullshit. I have no doubt whatever that he wanders around muttering “Stalinist bureaucracy” and “if only they had more computers…” (in regards to the total failure of the formerly communist Soviet Union).
A Fox News watcher or Drudge Report reader, are you, pb? Interesting world view you have. Krugman is nothing like that at all. In fact he is rabidly anti-Bernie and pro-Hillary– Hillary whose policy ideas are to the Right of some Republican presidents we have had.
The only part you got right is that Krugman is a fan of Keynes, as he well should be. Keynesian policies lifted the U.S. out of the Great Depression. And, if we would have used them fully during and after 2008, we would have recovered much faster from the Great Recession of 2008.
Oh, and Krugman is wonkish. You got that right too.
If the election turns out to be Trump vs. Hillary, it sure is going to be interesting. Trump, crazy as he may be, is more progressive than Hillary on some of his proposed policies.
Fox news? Drudge report? Ridiculous, I am student of economic history and only interested in the truth. Krugman is not a “fan” of Keynes, he is at minimum, a hard-core devotee and all of his economic recommendations are pure Keynes.
If you will bother to actually study the history of the 1929-1954 period (and the deflationary depressions prior to that one), you will find that Keynesian economic prescriptions most certainly DID NOT “lift the US out of the Great Depression. By the time Roosevelt took office, the collapse was complete. Roosevelt’s continuation and expansion of Hoover’s keynesian policies insured that any real recovery would be a long time coming. And so it was.
Curiously enough, the Ivory Tower has long been a bastion of communist effect. Consider: 1. Tenured professors can’t be fired. 2. Failed students cannot discharge their student loans in bankruptcy. 3. The government fully backs both student loans and grants, which are not difficult to get.
As they say, if you want to jack up prices on something, create a credit market for the product. There is no greater proof of that claim than the US college education “system”.
The college system and college loan system does need overhauling. But that doesn’t mean there is anything Communist about it. Many would call it predatory capitalist with the banks making out like bandits. Also, lots of universities give tenure to fewer and fewer professors now. There are a number of professors living in homeless shelters, who have been reported about. It’s simply crony capitalism benefiting the big banks. Nothing Communist about it.
In the Right Wing fantasy world, there are many things like Communism and many people who want to change the U.S. into a system like the former Soviet Union. In the real world, these things and people are as rare as hen’s teeth. Even Bernie, the furthest Left popular candidate, is in favor of a capitalist/socialist hybrid system like in some Scandinavian countries– not Soviet style Communism, not any style of Communism. Socialism is not the same as Communism, except to Fox News watchers and Right Wing web site readers, who live in an alternate reality.
Your “news source” is lying to you, pb.
Please provide a SINGLE LINK that shows a domestic tenured professor from an accredited college living in a homeless shelter. And I don’t mean voluntarily, as part of some “study” or other.
Not a tenured professor. I never said tenured profs lived in homeless shelters. Universities just don’t give tenure as much any more. I’ll go to the trouble of looking up the link for you, after you show me the link that provides proof that Paul Krugman is a Communist.
Uncle Cheeseburger was raised on the teet of a Mammy. Now he sucks Becky’s breast milk straight from the tit. Just wait. Cum guzzingling Monday. lol
Trump vs. Clinton. WOW the most disliked pair of candidates since um..er.. Obama vs. Romney. 😛
Oh Futures are going to be so interesting when they open, The G20 Cocaine Promise is gone and OMG they are telling the world that governments need to speed up economic reforms because multiple rounds of stimulus by central banks and treasuries used since the 2008 global crisis are no longer effective. This is going to get so ugly…detox is coming.
It doesn’t sound like you are all in? The indexes are sucking in roth like no other right now. Peeps be letting it go with gas at these prices.
Lol, I have been waiting since March of 2009 for this bubble to pop. Nobody stopped it forming with the massive production of “no demand” commodities financed by the global economy. I still hold that the Market peaked when we hit the 1755ish level. Buffett would have been better off getting out of positions at that level too, lol.
Well Berkshire started to slide Jan 2015, so he could have stayed in a bit longer.
What are the big hogs making the refining space happen? House of saud is not slowing down.
The market peaked at 1755. My charts must be broke at 2134.
Joshua, lol, Yes the SPX kept moving up on a few names but the underlying base of stocks started to fade. Commodities were falling apart. Big Money appeared to be leaving the table, example http://www.cnbc.com/2015/12/30/2015-was-the-hardest-year-to-make-money-in-78-years.html
Sure, stocks finally weakened in 2014 after a monster move from 2009. What was the point of waiting from 2009 for the “bubble to pop”? Missing a 1500 point move, to catch 400 on the way down seems like an odd risk reward strategy. Waiting (hoping?) for the world to end has got to be tiring.
Joshua, How many people get to watch a bubble from start to finish? Bubbles come and go so the world is not going to end, just start another bubble. Most people just follow the trend and invest that way…which is so much easier. Or they invest on Overbought/oversold conditions. Which is Great too. Not me, In 2009 I had no clue what a Kiwi was or who the BoJ was…only that China was shipping in massive amounts of copper during the Chinese New Years…I have never got tired, lol, only frustrated.
In 2009 I had no clue….. there is a wisdom that comes from studying history. Watching this one bubble from start to finish will not be a deep enough education.
Q what is the bubble and what are you looking for as a sign that it has stopped blwing bigger?