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Buffet has already failed.
Fuck em. Never split the stock so it's some aspirational or elite club to own class A shares, shove it. Then they play games with the class b?
Looks like they can't grow it and doing the old game to boost eps.
"Eureka ! I've got it ! Repurchase shares ! With Becky still nursing Junior Quick -- cute little fella -- I can still always count on Carl and Melissa to squawk what amounts to a CNBC 'pro bono' press release for my soaped up dog-and-pony show. Gosh sakes, I love those guys ! Always in the cronies' corner."
Senator's Son, & King of the Stealth Bailout (with co-partner in crime, Charlie "Suck It Up, Taxpayers" Munger), Warren Buffet, who gets sudden, impulsive urges to buy large amounts of the most toxic of equities while playing with his rubber duckey in the tub, and to then immediately call Becky Quick to tell her about his latest bouts of senility, sits atop a mountain of stocks that are or were orphans of anything remotely resembling capitalism or true private enterprise, existing now only because they have an umbilical cord tethered directly into the pockets of U.S. taxpayers, compliments of Hank 'Tank In The Streets' Paulson, Ben 'Leave No Banker Haircuts On The Table' Bernanke, Larry 'Even While Sleeping I'm Smarter Than Any Man' Summers, and Timmay 'I Broke It Twice & Am Trying for Thrice' Geithner (via TARP, TALF [aka Son of TARP], Maiden Lanes I through XXXVII, Quantitative Easing/Fondling, ZIRP4EVER, etc.).
Warren Buffett isn't the sweet old, Ice Cream Sandwich from Dairy Queen eating innocent Grandpa figure he's crafted his public image to be, however. Rather, he's a shrewd, cunning, highly effective kleptocrat, who has actually been sucking at the teat of big, activist, interventionist government long before TARP, TALF, QE & ZIRP were household names & acronyms.
Buffett is just one more symbol of what's gone horribly wrong in America, the world of finance, broken equity, bond, banking and capital markets, and an incestuous link between alleged self-made men (who are wolves in sheep's clothes) and politicians (Buffett is no doubt just waiting in the wings to come out and rally the blue hair, Buffett worshippers, in an attempt to get as many of these cult of personality worshipping fools to cast their votes for Obama in 2012; as long as Obama doesn't cut off the teat).
Everyone's favorite corny capitalist is really a crony capitalist lol.
Buffet is reduced to bailing him self out with his own money, oh the irony/shame/indignation
Anybody remember or have details on the Buffett S&P Puts ?
There was lots of talk about it in 2008-09 but hardly a word about it in mainstream media lately.
Where does BK stand on the status of those puts now ?
he chose to suckup instead of being loyal to the truth. time to listen to suzie ormann instead.
I hope Hedge funds gang-rape BRK. The stock price, I mean :)
That's an image I didn't need. Thanks Gene.
Maybe Warren should stop thinking about it as his money.
You're not illiquid Mr. Buffet ... your insolvent.
In other words, "People are losing faith in Berk and Warren has a large sum invested in it" he doesn't want to lose his shirt so he is implementing a stock buy back.
All i can hope for now is that Kramer gets on tv and tells everyone to buy Berk which hopefully leads everyone to drop it.
Dontcha just love the educated tyler's references?
Now he is channelling the greatest roman military genius.
Let us hope buffet suffers the same fate.
Et tu, Obamao?
Dontcha just love the educated tyler's references? Now he is channelling the greatest roman military genius. Let us hope buffet suffers the same fate. Et tu, Obamao?
Everyones now learning the 'Carrot and Stick' market technique. Your stocks get in trouble, just announce there will be a conference call placed. VOILA! Stock goes up.
I told that kraut a fucking thousand times that I don't roll on Shabbos!
It's already posted.
12 year olds dude.
Cue film of Munger grabbing chest with white knuckles.
burn buffet burn!
WB is a cheap shot, he's buying back his shit because all or most of "his" businesses are bleeding and buying back shares reduces free float, makes him look good come earnings time! Cheap!
letting a demented old fart handle billions of dollars...
I always have a weird feeling that Warren Buffett is actually another Bernie Madoff and he is not so successful as he appears to be.
Steinhardt sort of implied that.
forget the phrase "crash jp morgan, buy silver"----lets go with "crash warren buffett, short berkshire hathaway"
I dunno, that first one didn't work out all that well.
News Flash....BlowHorn [CNBC]...Steve Liesman....
Apparently, criminal syndicate Wall Street bankers are not satisfied with the market's progress after three weeks of rumoring futures contracts. Now talking about more "extraordinary Fed action" rumors coming out of the Fed.
Because we all know that the problem right now with the world economy is not enough central bank rumors/actions.
Seems to me with are within a day or two of complete collapse despite constant assertions that the Greece situation is no where near resolution. I suspect default is at hand.
Next, be prepared to ignore calls that default is "priced in" from the lie machine known as Wall Street.
Wow didnt take em long at all to dust off their best Carrot and Stick of all, 'I heard a rumor of QE4' surely will get those limp stocks up again! Worked pretty good for the last 8 months.
You can predict the outcome of an action/rumor. But if your model and everyone else's model is modelled with Gaussian's, error adds up and boom. The tracker will just disconnect.
More action or rumors is that add more heat to the already unstable system. Sure you produce new elements and discover faster light speeds, but implosion or explosition is getting closer.
For me an healthy 10% dose of VXX until november 4, after the rumored controlled Greece default on Novermber 3.
I speculated as much the other day http://www.zerohedge.com/news/suck-it-buffett-brka-below-100000-first-time-20-months
An unusual move for BRK.
He could just park a bid wherever he prefers to not see the stock fall below and that alone may keep the stock up indefinitely.
'Obama having your back' is not a very safe thing at all, soon as that street hood Obama gets in trouble he will put a knife in your back while youre there soaking in your bubble bath.
but I cant afford to buy the stock back,
I dont even pay my back taxes, as alleged.
I owe the suckers Billion, and im an Obummer Adviser... LOL
sheeple, suckers, foiled again. LOL
I can almost hear the conversation in the boardroom. Warren, if there are so few opportunities that you have to put money into something like BAC why not just buy back our own stock? Our own company at book HAS to be a better buy than an overleveraged piece of cr*p involved in every bad deal done in the last decade.
...and this just in...Cramer on CNBS:
"I'm a buyer here of Netflix"
Yep, just another pump Monday. Nothing to see here, move along.
Buffett can just suck it up...
but , but, but berkshire stock is cheap and they are flush with cash.... cnbc and their tireless pumping...
Buffet could have had a decent legacy.
He is now clearly shown himself to be just another crony capitalist cozy wirh the president and other politicians.
Investing five billion in BAC on inside information is wrong. He knew the Obamao's plan before the rest of us.
It appears most of his recent investments are influenced by his political connections....this is the definition of crony capitalism.
Had he had the ethics not to mix politics and investments he could have left a decent legacy.
Now he is just another fat, ugly troll.
From corny capitalist to crony capitalist lol.
The world caught up to Warren a long time ago.
My guess is he plans to buy back approximately 20% of the float. Then what? He is more worried about the share price staying above 100k than the good of the company, which would mean paying off the debt. He won't do that though because the old geezer had to have his choo choo.
All the people who haves stuck with him for the last 50 years finally have a chance to cash out with their profits.
Think about it. In all those years they have NEVER gotten a dime in dividends.The only way to make a buck is sell their shares. Now they get a chance to sell them above market value thanks to Warren's ego.
SOLD TO YOU Warren.
How I would love to see Mr Buffett and all his zombie followers crash and burn... BURN!
Somewhat offtopic, but still related...
I was thinking of share buybacks and manipulation, and it led me to Silvercorp Metals. I know that the simplest answer is often the best one, but could it be possible that chinese SVM insiders started the rumors specifically to lower shares prices? Knowing about silver imminent bashing of say 25%, you devalue your own company up to that point. Then silver corrects, you buy back your shares, knowing that you're the only one well valued around town.
Have people on this site lost their damn minds? What is everyone so upset about? That the guy has the balls at 80 to put money in the market when the rest of the investment population is running around like a chicken w/o a head screaming OMG OMG OMG its over, the country is going to hell.. Get some perspective people... All of a sudden GREECE and its 300 bn worth of debt is the center of the universe. It is the market cap of MSFT (add cash) for crying out loud!! Who the hell cares..... If everyone is so convinced that he buys on inside information then you should buy right along w/ him.... but no one has the guts so...
Go back to buying gold and silver
I would have agreed with what you said (minus the sarc about buying gold and silver)...until Warren invested in BofA. It's not too large a position compared to the rest of the fund, but as an owner of BRK-A I find any investment into that shit company troubling. I've owned this puppy for a long time and its done too well for me to want to sell right now, but if this buyback works I might sell at what I perceive to be the top (anywhere from 125k-150k). IF he starts making better moves than what he's done in the recent past I might stay on board for the long haul. As usually thank you zero hedge for the lessons. Soon enough I will be able to make my own calls instead of just following guys like warren because of their track records.
You think the carpet pissers did this, Walter?
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