Buffett's Replacement Is 77% Invested In Financials

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Tue, 10/26/2010 - 09:36 | 677336 primefool
primefool's picture

No no - read the article - he's in because he's a "regular american guy" ( wears jeans, eats hot dogs and drinks Co-Cola)

Tue, 10/26/2010 - 09:37 | 677342 NoBull1994
NoBull1994's picture

The fact that Combs is a Florida State University graduate is the only piece of information potential investors should need.  Run, don't walk, away from this one.....

Tue, 10/26/2010 - 10:04 | 677449 DonnieD
DonnieD's picture

As opposed to an Ivy League genius schooled in economic fantasy and corruption?

Tue, 10/26/2010 - 09:44 | 677360 slaughterer
slaughterer's picture

But he avoided AIG, FnF, Bear and LEH--so Warren gives him extra credit. 

Tue, 10/26/2010 - 09:45 | 677364 bobboberson
bobboberson's picture

Time to short yet?


"With 77% of his holdings at Castle Point invested in financials, there is no surprise why Todd Combs, who has yet to get to the part about diversification in Finance 101"


Tue, 10/26/2010 - 09:47 | 677375 NoBull1994
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It's a financial services fund, dumbass, what do you expect?  AAPL and AMZN?

Tue, 10/26/2010 - 09:46 | 677370 Oh regional Indian
Oh regional Indian's picture

He has to be an insider's insider to take over Buffet Holding(on)'s.

Ever since I found out that Gramps Warren was the son of a senator (this was a few years ago), the scales fell from my eyes.

Then, watching his moves into FIRE (actually you could say his moves, all big ones, helped move a lot of capital into the FIRE economy) and understanding why, it became more obvious that Gramps was just a tool and a fool to boot.

Combing through Todd's odd holdings simply confirms more of the same.

I wonder what BH will be worth on November 11th.

Watch that one going down. And given it's limited participation, I say good riddance.



Tue, 10/26/2010 - 09:54 | 677407 ILikeBoats
ILikeBoats's picture

Warren is a creation and creature of fiat.  He was born at the almost same time as fiat currency (1933 gold confiscation) and has lived his whole life in the growing bubble called the USD, he cannot conceive of anything outside that.

Tue, 10/26/2010 - 10:15 | 677482 mikla
mikla's picture


Run, don't walk, away from this one.

Warren's empire will die before Warren does.  No sympathy here.

Tue, 10/26/2010 - 10:05 | 677453 b_thunder
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77% in financials?  No problem.  It's going to be called BPiP  - Buffett-Public Partnership.  He buys into insolvent, broke and criminally fraudulent financials (a la $5B GS buy-in) and in return the Fed and US Treasury will not let them "fail."


Tue, 10/26/2010 - 10:12 | 677474 Bill Lumbergh
Bill Lumbergh's picture

The man must be insane or he knows something we do not.

Tue, 10/26/2010 - 10:15 | 677484 DollarDive
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It's like betting with the house.

Tue, 10/26/2010 - 10:18 | 677493 Ripshod Righteous
Ripshod Righteous's picture

I love zero hedge -- but Castle Point is a long/short FINANCIAL SERVICES fund. This isn't some overzealous bet on one sector, it's their mandate.

Tue, 10/26/2010 - 11:26 | 677721 Oh regional Indian
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I think the point might be that he is a FIRE-man.

Meaning more of the same at Buffoon holdings.



Tue, 10/26/2010 - 11:56 | 677803 hedgie
hedgie's picture

Since we don't know what he is shorting, we have no idea what the really thinks of the FIRE economy.  He could be 200% net short.  He could have loaded up on puts.  Or he could be pursuing a relative value thesis.  Short BAC and long MA would be a perfectly plausible strategy.

Tue, 10/26/2010 - 11:56 | 677807 Sherman McCoy
Sherman McCoy's picture

Oh great! A "value stock" monkey. I guess that guarantees he won't "one-up" his predecessor, securing is place in market history.

Tue, 10/26/2010 - 13:59 | 678124 Fruffing
Fruffing's picture

Those grapes are probably sour anyways....   Tho' it don't look like a lotta money he runs.   No worries, GS will help him with execution, no?

Tue, 10/26/2010 - 15:08 | 678324 Grand Supercycle
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DOW weekly chart shows the rising wedge contained within the megaphone pattern. This remains a very bearish picture and we should
get a breakout soon.


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