This page has been archived and commenting is disabled.

Do What Buffett Says, Not What He Does

Tyler Durden's picture





 

As can be seen in the attached clip Warren Buffett, as part of his anti money tirade, both real (gold) and fiat, the Chairman of Berkshire is certainly not a fan of holding cash in any form. To wit: "cash is as risky an asset you can own over time." In other words, the opportunity cost of not owning something else with that cash is indicative of even more risk in the equities arena. So one wonders: is the fact that Buffett's firm now has a record amount of cash on its books more an example of senility or hypocrisy.... Or is all hell about to break loose as per Buffett's own words? We can't decide.

 

Compare the oracular words He spaketh in today's interview with Becky 'not-so' Quick - forward to 2:30 for the punchline on cash...

 

with the sad reality of BRK's own balance sheet exuberance with the highly risky cash...

 

To give CNBC their credit, their was one lone voice in the darkness. Gary Kaminsky pointed out this apparent hypocrisy this morning but alas the powers-that-be at the business channel felt videos of Zuck's arrival and 'The Avengers' reviews were more appropriate.

Chart: Bloomberg

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 05/07/2012 - 14:03 | Link to Comment Fidel Sarcastro
Fidel Sarcastro's picture

Senility...the Old Coger of Omaha is losing it.

Mon, 05/07/2012 - 14:16 | Link to Comment redpill
redpill's picture

This crusty old bastard has become such a crony scumsucker that he's worse than any villain Ayn Rand could have dreamed up for Atlas Shrugged. His rambling contradictory blathering is a daisy chain of obselete, defunct economic colloquialisms designed to provide a smoke screen for the simple fact that he has no fucking clue what he's doing or how to operate in this fundamentally flawed economy, and that he has completely given up attempting to be an honest actor and his entire strategy now revolves around buying favor from politicians and central bankers. He is a decrepit, rotting piece of crony zombie flesh, and the world will be a far better place when he's gone.

Mon, 05/07/2012 - 15:22 | Link to Comment ATM
ATM's picture

You are almost exactly right about Old Warren except fo rthe fact that he certainly does know how ot operate in this flawed economy and not only does he have a clue how to do so he is scamming the system even more as it collapses and devolves into the next economic iteration.

The fucking scumbag is right at the forefront of the thievery. That isn't by accident but by design.

Mon, 05/07/2012 - 15:44 | Link to Comment slaughterer
slaughterer's picture

BRK common is entering into resistance if you want to short it for revenge.  

Mon, 05/07/2012 - 14:26 | Link to Comment surfwon
surfwon's picture

Warren Baffoon........... just a bag of bones........... cumsucker

Mon, 05/07/2012 - 14:39 | Link to Comment Hippocratic Oaf
Hippocratic Oaf's picture

"I like to fondle pretty things, Becky"

"I bet you do, Warren" says Becky

If 5 hrs. of 'The Oracle' coverage is all CNBS has, oh never mind.......

Mon, 05/07/2012 - 14:52 | Link to Comment fonestar
fonestar's picture

+1000

 

Burgers, strawberry shakes, JayZ, Jimmy Buffet... UGH!!  Name dropping, fake, pop culture whore!  Somebody put this guy out of his misery!

Mon, 05/07/2012 - 14:33 | Link to Comment whatsinaname
whatsinaname's picture

He is waiting for the Facebook IPO so he can buy it with all fours. 

Why else would he keep so much dry powder ready ? 

Mon, 05/07/2012 - 14:54 | Link to Comment fonestar
fonestar's picture

or frontrun it with all fours... he will be inside

Mon, 05/07/2012 - 15:39 | Link to Comment HarryM
HarryM's picture

Nice spikes in cash holding right before each downturn.

Screw the charts, just watch his cash.

Mon, 05/07/2012 - 14:47 | Link to Comment pkea
pkea's picture

let's just say that he is not the wealthiest individual, he doesn't really move markets, we all know who does move it and who has it all...

why would he or anyone still even care about investing in his age(obviously won't either enjoy it or see the results of his investments growth)...he really even almost passed the age of giving it all away to experience joy of sharing with less fortunate than him...

Mon, 05/07/2012 - 14:48 | Link to Comment ScotlandTheBrave
ScotlandTheBrave's picture

He's not loosing it.  The chart says "Cash AND MARKETABLE SECURITIES."  Under GAAP [Generally Accepted Accounting Principles] the term Cash can include short-term MARKETABLE SECURITIES such as 90 day US Treasuries.  So no lying going on...they're not sitting on cash they've invested it in Berniek & Co.

Mon, 05/07/2012 - 15:11 | Link to Comment jekyll island
jekyll island's picture

I think he is more like a vampire squid, talking up the opposite side of the trade he wants to make.  Probably is overweight in cash because he thinks the market is going to tank, and he wants to buy those equities from retail investors at firesale prices.  

Mon, 05/07/2012 - 18:14 | Link to Comment SAT 800
SAT 800's picture

I'm voting for senility and hypocrisy; why should it be either/or?

Mon, 05/07/2012 - 14:04 | Link to Comment Sandoz
Sandoz's picture

If you can't beat em, berate em. 

Mon, 05/07/2012 - 14:09 | Link to Comment ebworthen
ebworthen's picture

Hollywood Diner - how quaint.

"A rich guy never has to pay for anything...har, har, har..."

Buffet makes me want to puke, on him.

Mon, 05/07/2012 - 14:35 | Link to Comment Comay Mierda
Mon, 05/07/2012 - 14:07 | Link to Comment Cdad
Cdad's picture

This guy will often contradict himself within a 30 second sound bite.  Good luck piggy backing whatever he says...and good luck trying to stay in the trade with him.

Mon, 05/07/2012 - 14:29 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Brother Cdad,

Whales don't contradict themselves. They just make a very large hole in the water whenever they want to.

Money (regardless of how it is acquired) is the ultimate soothing Cognitive Dissonance balm.

Mon, 05/07/2012 - 15:14 | Link to Comment Cdad
Cdad's picture

Brother Cog,

My comment was more literal than that.  If you listen to him carefully, he contradicts himself within seconds of stating a position, and then laughs uncomfortably...the avuncular uncle thing.  At the level of his actual words, he is often contradictory.  

Mon, 05/07/2012 - 15:26 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I agree. He is a buffoon. Just being a smartass. :)

But it does add to his televised image of a grandfatherly old coot who just happens to be filthy rich. Nice public image manipulation actually.

One of these days he will fart on camera and the stock market will flash crash 10%. Or flash dash 10% depending upon which way the herd mentality is blowing at the moment.

Mon, 05/07/2012 - 17:40 | Link to Comment Blankenstein
Blankenstein's picture

 Uncle Warren always preached conservative, value-oriented investing.  The generous terms of his 5 billion investment in Goldmans indicates a risky bet, contrary to the Buffett investing method.  So was it a safe play because he knew that the government was going to bail out the banks and AIG?  Either he is disingenuous or had access to inside information.  And let's not forget his large positions in derivatives, those financial weapons of mass destruction.  Ah shucks Warren, you are completely self-serving and cannot be trusted.  

Mon, 05/07/2012 - 20:50 | Link to Comment The Real Fake E...
The Real Fake Economy's picture

warren's got major swagga

remember he was fighting the government a few years back asking to be given special exemption to not have to report his trades because people might front-run him?  whatever happened with that?  did obama give in and say sure, warren - whatever you want.  

Mon, 05/07/2012 - 14:07 | Link to Comment John Law Lives
John Law Lives's picture

That SOB is an outspoken advocate of an onerous Federal Estate Tax.  Many will not weep the day he strokes out.

Mon, 05/07/2012 - 14:26 | Link to Comment ProtectiveFather
ProtectiveFather's picture

Of course he is. Big non-liquid estates need big life insurance policies to cover the estate tax.

Mon, 05/07/2012 - 14:43 | Link to Comment John Law Lives
John Law Lives's picture

"Big non-liquid estates need big life insurance policies to cover the estate tax."

Yes, they do.

"Of course he is."

... and many people despise him for it.  Many believe it is immoral that the Federal Government has the right to levy an onerous tax on someone's estate upon their death.

Mon, 05/07/2012 - 14:28 | Link to Comment ProtectiveFather
ProtectiveFather's picture

 

 

Mon, 05/07/2012 - 14:07 | Link to Comment midgetrannyporn
midgetrannyporn's picture

Buffett looks worse every day and I am enjoying it.

Mon, 05/07/2012 - 14:08 | Link to Comment DaveyJones
DaveyJones's picture

hypocritic senility

not be confused with hippocratic senility

I hear greek medicine is tough to swallow

Mon, 05/07/2012 - 14:11 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Histrionic banality.

Mon, 05/07/2012 - 14:07 | Link to Comment Deep79
Deep79's picture

Dont know why anyone gives this guy any attention. he was one of the biggest benificuires of all the bailouts.

He just got lucky, caught the biggest bull market in history, rode it's coat tails.

Just look at his performance sine bear market statred in 2000. 

No baiouts in 2009, what should have happen, that is FREE MARKET CAPITILSM, this old geezer goes broke

 

 

Mon, 05/07/2012 - 14:54 | Link to Comment pkea
pkea's picture

that's exactly the problem with the system deep79 that the people are so stupid and continue to allow banks and Berkshire to get bailed out at their expense. good luck with that....always winning long bet on stupidity

Mon, 05/07/2012 - 14:09 | Link to Comment Dr. Engali
Dr. Engali's picture

I went home for lunch and turned on CNBC I actually watched them beat up gold and silver ,recommending a short position in silver ,while at the same time hyping that piece of crap Facebook. I think the whole segment was about one minute long. That's all I could take of their propoganda.

Mon, 05/07/2012 - 14:14 | Link to Comment 5880
5880's picture

u guys don't listen very well

do you

Mon, 05/07/2012 - 14:48 | Link to Comment pods
pods's picture

The facebook conflagration is going to be legen.............Wait for it.......dary.

 

Mon, 05/07/2012 - 14:54 | Link to Comment Dr. Engali
Dr. Engali's picture

You forgot to sign off pods.

Mon, 05/07/2012 - 15:03 | Link to Comment pods
pods's picture

Well since that was a Barney line I figured I wouldn't steal it by signing off.

pods

:)

Mon, 05/07/2012 - 14:09 | Link to Comment carbonmutant
carbonmutant's picture

Gee what would an uncivilized person do?

Mon, 05/07/2012 - 14:13 | Link to Comment Dr. Engali
Dr. Engali's picture

I don't know what an uncivilized person would do, but a civilized person would bomb some brown people into submission and take their gold....and their oil while they are at it.

Mon, 05/07/2012 - 14:21 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

And then "loan" them the money to rebuild as a civilized Ponzi nation.

Mon, 05/07/2012 - 16:10 | Link to Comment DaveyJones
DaveyJones's picture

That reminds me: Nice interview with Steve Coll on the civilized empire of Exxon:

http://www.democracynow.org/2012/5/7/exxonmobils_dirty_secrets_from_indonesia_to

Mon, 05/07/2012 - 14:10 | Link to Comment Sudden Debt
Sudden Debt's picture

If you actually type senile and buffet in youtube, this is what you get:
http://www.youtube.com/watch?v=KMvQPeBAesw&sns=em
Eeuuuhh.. Eeuuuhhh deeuuuuhhhh'....eeeuuuhhhh..eeeuuddd..deeuuhh....

Mon, 05/07/2012 - 18:20 | Link to Comment SAT 800
SAT 800's picture

Good for you ! That's what we need, more serious researchers !. More Waffles !

Mon, 05/07/2012 - 14:11 | Link to Comment HANKREARDON
Mon, 05/07/2012 - 14:11 | Link to Comment TwoJacks
TwoJacks's picture

I for one can hardly wait for this fucker to be dead. I am so sick and tired of hearing about the great warren buffett

Mon, 05/07/2012 - 14:16 | Link to Comment ebworthen
ebworthen's picture

"Buffet is Bones!" party planning time.

Mon, 05/07/2012 - 14:11 | Link to Comment DonutBoy
DonutBoy's picture

It means he expects to have opportunities to buy businesses he likes at a discount shortly.  It means no QE3 until we have another large drop in equity prices.

Mon, 05/07/2012 - 14:20 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Buffett is the supported dream for the slave nation.

"Some day I could be just like him and leave this life of debt slavery behind. Just work hard, mind da boss and maybe, just maybe, I can be a Buffett too."

Gotta let the slaves think they can make it big so they work that much harder in the salt mines. I've been guilty of this mindset at one point in my life so I'm not calling the pot black.

It's called the slave mentality and while it appears to be completely different from the 17th century slave trade, it is almost exactly the same. The standard of living is just a bit higher. And the cost (to the slave owners) for allowing that higher living standard is more than offset by the dramatically increased productivity from the seemingly sated slaves.

For now.

Welcome to modern plantation living boys and girls.

Mon, 05/07/2012 - 14:32 | Link to Comment Body of Lies
Body of Lies's picture

As long as I have American Idol, DWTS, UFC and ZH what else do I need?

Mon, 05/07/2012 - 14:41 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

At the risk of excommunication from Zero Hedge, for all the good that it does (and ZH does great good) ZH is also not much more than a soothing balm for our own brand of Cognitive Dissonance.

The bottom line is that while ZH may bring the horse to the water, most of the horses that come here are already somewhat aware that something is very very wrong. And even then, ZH can't make them drink the water.

Mon, 05/07/2012 - 14:57 | Link to Comment Dr. Engali
Dr. Engali's picture

I think it would take a lot more than that to get excommunicated for CD. Look at what it took for and Travis7777 to get the boot.

Mon, 05/07/2012 - 15:03 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

So I'm not skating on thin ice? Whew! And here I thought I was soon to be DOA.

Sadly I had almost forgotten about Trav until you mentioned him. Thanks a lot for nuttin'. :)

Mon, 05/07/2012 - 15:12 | Link to Comment Dr. Engali
Dr. Engali's picture

My other reference was Robo but it looks like my iPhone wiped him out....... Hmmmmm. Telling :)

Mon, 05/07/2012 - 15:09 | Link to Comment SheepDog-One
SheepDog-One's picture

I'm chuggin the water *glug* *glug*

Mon, 05/07/2012 - 16:13 | Link to Comment DaveyJones
DaveyJones's picture

I'm trying to turn mine into wine

Mon, 05/07/2012 - 14:14 | Link to Comment razorthin
razorthin's picture

He's just an asshole who got very lucky early in his career, and now he basically flies by the seat of his pants.  Once in a while he will blurt a "pearl" or two for those numbskulls who would be bamboozled by his pseudo-intelligence.  You know, like Becky.

Mon, 05/07/2012 - 14:25 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

When the winning streak ends it's not surprising that many turn to crony capitalism to keep their place at the feed trough.

Mon, 05/07/2012 - 14:40 | Link to Comment falak pema
falak pema's picture

that's exactly what Jean de Médicis, Pope Léon X told Martin Luther in 1520! 

"I am a humanist, I like every thing you say about the church and the need for Reform as it corresponds to everything my Florentine education taught me. But why o why does an INTELLIGENT man like you want to bad mouth our thousand year construct which has been SO GOOD TO US...THE GUY JESUS MADE US WHAT WE ARE, WHY THROW OUT THE BABY OF THE CATHOLIC CHURCH WITH THE BATH WATER OF INDULGENCE SIMONY?"

History repeats; only today, the "FREE Global MARKET" of US Uber-Alles, IS the PApal church and Bob Bernarnke is its Pope defending the Greenback financial God of the world. All Hail the Papal church and down with heresy.

Winning streaks ended for the Papal church after a thousand years in 1527! Life was never the same again in the Vatican.

Sack of Rome (1527) - Wikipedia, the free encyclopedia

Mon, 05/07/2012 - 15:50 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

He was born on 3rd base.

Mon, 05/07/2012 - 14:22 | Link to Comment lizzy36
lizzy36's picture

I have no clue what the Avengers is....and can't be bothered to find out.

Funny thing, is while Becky is doing double duty with Buffet and Munger, CNBC has yet to find anyone "zuck" wants to do duty with. 

Alas, first shitty quarter FB has, Zuck will go running to media for propoganda coverage.

Hard to believe cnbc losing viewers with this sort of independent reporting.

Mon, 05/07/2012 - 17:05 | Link to Comment I am a Man I am...
I am a Man I am Forty's picture

zuck won't care if people get crushed owning fb, he just doesn't give a shit about others, he will get enough money out where it doesn't matter to him either

Mon, 05/07/2012 - 14:18 | Link to Comment q99x2
q99x2's picture

He's gettin reddy to kick the can. I don't know where to. I don't think it is down the road. But he appears to have found a way of taking his money with him. Maybe it is to pay the US military cash not to interfere with the bankster attack on the US. I thought he said he was buying single family homes with it. I thought he was buying the Dip with it. I thought he was buying ice cream cones with it. The only thing I do know is that CNBC lies.

Mon, 05/07/2012 - 14:18 | Link to Comment trembo slice
trembo slice's picture

What?  No HOVA?  That's the only reason I finally gave in and watched the clip.

Mon, 05/07/2012 - 14:34 | Link to Comment TWSceptic
TWSceptic's picture

Not even his point on money is correct. Fiat currency is not money, gold is money. Gold has kept its value for thousands of years.

 

Can't say that about too many equities.

Mon, 05/07/2012 - 14:22 | Link to Comment XtraBullish
XtraBullish's picture

They send Becky to kiss his wrinkly ass because the brass think he will juice the ratings but the only people that watch are too old for the Viagra ads anyway. Buffett is the walking embodiment of Wall Street - old, decrepit, and flawed.

Mon, 05/07/2012 - 14:23 | Link to Comment razorthin
razorthin's picture

Huge HS in IWM and huge inverse HS in gold.  That's all I know and care about.

Mon, 05/07/2012 - 14:24 | Link to Comment Yossarian
Yossarian's picture

Can you examine the Berkshire return since the late 90"s compared to Treasuries, or Gold, or some combination thereof?  I think investing in both of those assets (or the combo) would have generated superior returns to Berkshire, even after BRK benefited massively from bailouts, subsidies, inside info, etc. during and after the financial crisis.   

Mon, 05/07/2012 - 14:25 | Link to Comment Smokey1
Smokey1's picture

WEB eats shit.

Mon, 05/07/2012 - 14:26 | Link to Comment delivered
delivered's picture

Warren is nothing more than a proxy for Washington and Wall Street now. With nobody believing or having any confidence with the twin W's, they now need to look to these so called "experts" that come with perceived creditibility to deliver the message that all is well. Funny thing with BH's latest earnings as they seemed to have been heavily based in their insurance interests and derivative bets (both paper based businesses). Building cash reserves, earnings being driven from paper, hell, it sounds like Warren is nothing more than an investment bank located in the center of the country. Not sure if any readers on ZH really believe Warren and his side kick Charles but it does provide for some good talking points.

Mon, 05/07/2012 - 14:35 | Link to Comment midgetrannyporn
midgetrannyporn's picture

BRK is a hedge fund like everyone else.

Mon, 05/07/2012 - 14:28 | Link to Comment azengrcat
azengrcat's picture

BRK's balance sheet is loaded with subprime fiat garbage.  They need to find find some civilized ponzis to diversify into.  

Mon, 05/07/2012 - 14:31 | Link to Comment TWSceptic
TWSceptic's picture

I hope he sells all his gold & silver and puts everything in stocks, then loses most of it in the coming collapse, then dies. Poetic justice.

Mon, 05/07/2012 - 14:31 | Link to Comment BudFox2012
BudFox2012's picture

Two points:

1) Who cares what the senile old banker propaganda minister has to say?

2) By embedding a CNBC video in this article, Zerohedge has effectively doubled the yearly page views of CNBC.com

Mon, 05/07/2012 - 18:27 | Link to Comment SAT 800
SAT 800's picture

I didn't even know there was a CNBC.com. what's it for?

Mon, 05/07/2012 - 14:31 | Link to Comment SDRII
SDRII's picture

Berkshire Balance Sheet Assets

Insurance Fixed Asset Maturities 30.7 billion

Equities: 87.9B

Other: 14.5B

Enough Said.

http://www.sec.gov/Archives/edgar/data/1067983/000115752312002551/a50258...

 

Mon, 05/07/2012 - 14:33 | Link to Comment Jerry Maguire
Jerry Maguire's picture

I would say he's still pretty cagey, not that I mean that as a compliment.

Sometimes he's saying what he really thinks.  Sometimes he's not.

Personally, I think the PTB are hoping that a gradual rise in interest rates will finally produce that inflation they've been trying to bring about for 5 or 6 years.

http://strikelawyer.wordpress.com

Mon, 05/07/2012 - 14:34 | Link to Comment robertocarlos
robertocarlos's picture

Gold is slowly dropping to my strike price. $750

Mon, 05/07/2012 - 14:46 | Link to Comment Dr. Engali
Dr. Engali's picture

Is that in the newly issued devalued 10 to 1 dollars?

Mon, 05/07/2012 - 16:17 | Link to Comment DaveyJones
DaveyJones's picture

you're on a run today

Mon, 05/07/2012 - 15:40 | Link to Comment Biosci
Biosci's picture

Pretty freakin' slow.  Hope expiry is still a long ways off.

Mon, 05/07/2012 - 14:37 | Link to Comment johnjkiii
johnjkiii's picture

He's been in a big cash position for years & yet he is right about it being a risky asset. The gov't has devalued it 2124% since the Fed was perpetrated on us in 1913. His problem is that the derivatives he's been able to use in the past (usually about 30% of his trading) are now even riskier and he can't or won't buy at these Fed pumped prices. Since he hates gold, he is stuck. He has to rely on giving Obammy a blow job every once in a while so  he can get contracts (handouts) for his portfolio companies. Not senile, just an effing scumbag.

Mon, 05/07/2012 - 15:17 | Link to Comment NotApplicable
NotApplicable's picture

Poor guy. Got all of that cash instead of tangible things with real value. "Everything's overpriced!" he says. "I want to own productive assets, but there aren't any!" I wonder, surely he realizes why, right?

Given enough time, malinvestment will own him (or at least BRK).

Mon, 05/07/2012 - 14:42 | Link to Comment xela2200
xela2200's picture

You know what I find interesting is not what Buffett says about gold, but that He says it. If Gold is so barbaric or ridiculous, why do they keep on talking about it? Maybe, it is bias as Graham was agains it too.

Mon, 05/07/2012 - 14:54 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"If Gold is so barbaric or ridiculous, why do they keep on talking about it?"

I suspect because he is constantly asked about it. After all, don't you ask the Oracle to solve all your Cognitive Dissonances? These people are plagued by the Gold CD. If it's soooo bad, why has it risen every year for a decade?

Which means that some of those who are asking will eventually purchase some Gold just because.......well, you know........just in case.

Welcome future Gold owners. Hopefully you will quickly see the wisdom of becoming physical Gold stackers rather than paper Gold "renters".

Mon, 05/07/2012 - 14:42 | Link to Comment Stuck on Zero
Stuck on Zero's picture

Do what Buffet does to get rich.  Buy Congressmen, buy influence, hire attorneys, work secret deals with company execs, and tell the public to buy what you're selling.

 

Mon, 05/07/2012 - 14:44 | Link to Comment RWR
RWR's picture

Buffet needs to tell his secretary about this Tax Loop HOLE!

 

http://www.wthr.com/video?clipId=7054149&autostart=true

Mon, 05/07/2012 - 14:46 | Link to Comment Shizzmoney
Shizzmoney's picture

Can this motherfucker Buffett just croak already?

Mon, 05/07/2012 - 14:45 | Link to Comment MrVincent
MrVincent's picture

Warren "thanks for the bailout, suckers" Buffett

Mon, 05/07/2012 - 14:45 | Link to Comment jmcadg
jmcadg's picture

'When you're rich you don't have to pay for anything'

Oh Warren, just the truest words you've spoken. I take it that includes taxes.

You blithering idiot.

This guy is an A Grade Chancer, by his own admission I think he knows it was fluke and good connections that got him where he is.

It's ok I'm not bitter, netiher am I about to 'pop my clogs'!

Tue, 05/08/2012 - 05:55 | Link to Comment Psyman
Psyman's picture

Connections like being born into an established wealthy political family?  Connections among the D.C. and New York elite?  Invitations into the halls of power at will?

 

Oh, no, never mind.  I heard he made his fortune starting at age 10 selling newspapers and collecting cans.  He's just a hard worker that came from nothing.  The rest of you are just envious of his success.  Envious and lazy.

Mon, 05/07/2012 - 14:48 | Link to Comment Dr. Gonzo
Dr. Gonzo's picture

This stupid geezer is on CNBC every dam time I turn around. How pathetic for a 99 year old fosil to be so vain that he still feels the need to be fawned over on a continual basis by a bunch fake paid harlots and hacks. "Tell us how great stocks are Warren." Tell us how much money you have Warren." "Tell us again that gold is not a good investment Warren." "Tell us about how you play bridge with your best pal Bill Gates who is also a billionair." "Tell us what you'll do with all you're money when you die." Who gives a shit.

Mon, 05/07/2012 - 15:04 | Link to Comment Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

"Tell us when U'll finally drop dead U old fart & how U can't take your fake funny money wealth with U".

Maybe he'll play bridge with Steve Jobs in the great beyond @ a Foxconn factory while slave labor jumps out of the windows?

Tue, 05/08/2012 - 05:58 | Link to Comment Psyman
Psyman's picture

The Boomers are dying, and their heroes are dying with them.  Seeing men like Buffet die helps ameliorate the stifling fear that has overtaken the Boomer generation in their old age.  Even the richest men in the world die, and this thought consoles them somewhat.

Mon, 05/07/2012 - 14:49 | Link to Comment Waterfallsparkles
Waterfallsparkles's picture

I watched the comments from one of the Foreign Leaders about the Buffet rule where he said that Buffets wants all of the Millionaires and Billionaires to pay more taxes to protect his assets.

Buffet wants everyone to put their Money in the Market to support his Companies and his derivatives bet on the Futures.  Money in Gold means less money in the Market to support his Companies.

Without new taxes and people putting more and more money in the Market he is dead in the water and he knows it.  He does not want to go back to 2008.  He knows the terror of his portfolio if everything falls apart.

He is just talking his book.  Like everyone else on CNBC.

Mon, 05/07/2012 - 15:04 | Link to Comment Quinvarius
Quinvarius's picture

Plus he sold a buttload of puts on the market.  If the market goes south, his hit is going to be one for the record books.  I don't know if he is trying to be TBTF or what.  The risk profile makes no sense at all.

Mon, 05/07/2012 - 16:21 | Link to Comment Waterfallsparkles
Waterfallsparkles's picture

All of those derivatives he has could wipe out his whole portfolio.

He knows it.  That is why he is buying IBM as with its weighting in the index pulls the Market up.  Everything he does is to keep those derivatives in the Money.  Otherwise he will be wiped out.

Tue, 05/08/2012 - 06:00 | Link to Comment Psyman
Psyman's picture

Buffet is too big to fail.  The tax payer would bail him out, again.

Mon, 05/07/2012 - 16:04 | Link to Comment junkyardjack
junkyardjack's picture

Exactly

"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." - Warren Buffett

Tue, 05/08/2012 - 06:02 | Link to Comment Psyman
Psyman's picture

And yet I am gang raped by the old people on Zero Hedge when I say buying a home to use as a primary residence in the U.S. right now is a financially wise move.  If I weren't about to become an expat and flee the fascist police state known as the United States, I'd be buying a home for sure.

Mon, 05/07/2012 - 14:55 | Link to Comment Waterfallsparkles
Waterfallsparkles's picture

Wow CNBC wondering about their ratings.  Warren Buffet for three hours this morning plus clips all day long, then Cramer to follow after Buffet, and now Abby Joseph Cohen.  Facebook IPO all day. You know they are pumping stocks hard.

Mon, 05/07/2012 - 16:29 | Link to Comment Conax
Conax's picture

During market hours they run about an 83% market share. They are the prime financial media tool of the banks/gov. Today is really important to them, I guess we'll all know why pretty soon.

Mon, 05/07/2012 - 14:56 | Link to Comment ziggy59
Mon, 05/07/2012 - 16:02 | Link to Comment junkyardjack
junkyardjack's picture

First smart thing he's done in a while...

Mon, 05/07/2012 - 14:56 | Link to Comment alagon
alagon's picture

never was a big fan of buffet. He never invented anything like Henry Ford or Tesla did. All he does is speculate on these worthless financial instruments in order to squeeze out profit.

Mon, 05/07/2012 - 14:56 | Link to Comment Rathmullan
Rathmullan's picture

"civilized people" invest in productive businesses, where "productive" means businesses that take advantage of government tax and spending and other anti-competetive policies. Oh, and businesses that are productive in making the world obese.

Mon, 05/07/2012 - 15:02 | Link to Comment Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

Buffett is the classic rich douchebag.  When he's raking in the bucks, he's a died-in-the-wool capitalist & if u aren't making bundles of cash too, it's because U're lazy.

When his investments turn south, all of a sudden we need government intervention & he turns into a socialist.  Social programs for the poor? Nope.  Remember, I said they're lazy?  They're not making it on their own like Ol' Uncle Warren.

A fucking hypocrite to the core is what he is.

Mon, 05/07/2012 - 15:01 | Link to Comment UTICA CLUB XX PURE
UTICA CLUB XX PURE's picture

Hate Buffet

 

Mon, 05/07/2012 - 15:06 | Link to Comment knukles
knukles's picture

Who the fuck cares anymore.

Seriously.
His geatest utility has become a locus of ridicule on ZH.
Dminishing marginal utility of horse shit.  

Mon, 05/07/2012 - 15:05 | Link to Comment YesWeKahn
YesWeKahn's picture

Buffet also said "reelect Obama"/

Mon, 05/07/2012 - 15:09 | Link to Comment SheepDog-One
SheepDog-One's picture

Buffet I cant wait to see the morning when your obit is being shown on CNBC

Mon, 05/07/2012 - 15:10 | Link to Comment SheepDog-One
SheepDog-One's picture

Becky 'not so' Quick lol she is a dumbass.

Mon, 05/07/2012 - 15:19 | Link to Comment Todd Horlbeck
Todd Horlbeck's picture

He needs the cash.  He has $58 billion in upside bets in the stock market, he needs the cash.  Also, who knows what risk he's underwritten that is not disclosed. 

Tue, 05/08/2012 - 06:04 | Link to Comment Psyman
Psyman's picture

At that level you aren't placing "bets."  You're a member of the inner circle of the fascist American empire, and you know what's going to happen before it does.

 

Stay long fascism.  If Buffet is buying BAC hand over fist, you should do the same.

Mon, 05/07/2012 - 15:20 | Link to Comment Belarusian Bull
Belarusian Bull's picture

Owned.

I have a question though : under what conditions all those corporate QE cash piles are going to go to in broad economy?

Mon, 05/07/2012 - 15:22 | Link to Comment SheepDog-One
SheepDog-One's picture

Never. This whole 'recovery' nonsense is just banks and corporations free to stuff themselves full of 0% no cost cash, and report it as 'profits'. Its NEVER coming back out!

Mon, 05/07/2012 - 15:22 | Link to Comment JaniceRossi
JaniceRossi's picture

Of course he's going to come on and say buy stocks, has he ever said anything else?

Mon, 05/07/2012 - 15:28 | Link to Comment LouisDega
LouisDega's picture

Im psyched!! Sounds like a plan.... By the way, What does he say? I dont watch CNBC

Mon, 05/07/2012 - 15:25 | Link to Comment orangegeek
orangegeek's picture

Buffet is trying to herd to masses into a direction that will benefit him.

 

Listen to Buffet and do the opposite.  Thanks Warren.

Mon, 05/07/2012 - 15:33 | Link to Comment Quinvarius
Quinvarius's picture

I struggle to respond to Warren Buffet statements.  I start to type, but what is the point.  The dude is obviously trolling MSM.

Mon, 05/07/2012 - 15:41 | Link to Comment chunkylover42
chunkylover42's picture

Buffett indicated they were close to a major acquisition in the neighborhood of $22bn, but didn't move forward because it would have meant selling some of the stocks in the Berkshire portfolio to raise additional funds.

Mon, 05/07/2012 - 16:01 | Link to Comment junkyardjack
junkyardjack's picture

Don't cut your fingers reaching for gold...

Mon, 05/07/2012 - 16:29 | Link to Comment insanelysane
insanelysane's picture

Bloomberg had a thing on Buffet this morning with the 3 ladies discussing Buffet's stance on women.  The discussion centered around Buffet slamming Augusta National golf club for not having women members.  The 3 ladies thought it was great that Buffet took this position even though they acknowledged Buffet doesn't have senior level women working for him. 

I believed they're called Limousine Liberals because they'll tell you how great walking everywhere is as their chaufeur runs you down in the street like a dog.

Tue, 05/08/2012 - 06:12 | Link to Comment Psyman
Psyman's picture

Women only play golf because their boyfriend/husband plays golf.  In fact, most women only do anything because some man that is fucking them also does it.  Women have no personality and no interests or hobbies in the sense that men use those terms.  The closest thing women have to a hobby is shopping.  So walking around spending money.  That's the most common female hobby.  When you run into a woman and she does some normal hobby it means that some dude that was railing her imprinted that hobby onto her, like a dick in a piece of silly putty.

 

Having said that, hilariously; the vast majority of women are absolutely awful at golf.  Why would you want them to be allowed to play at your elite golf club?  I sure wouldn't.

 

1. You have to maintain "women's tees" if you allow women to play.

2. They slow the pace of play because they don't hit the ball as far as a man.

3. Most of them are awful, so they're taking 150 strokes per round.

4. Also, fuck you, it's a private club and they can do what they want.  No colored allowed.

Mon, 05/07/2012 - 17:10 | Link to Comment Catflappo
Catflappo's picture

2005 :  I still thought Warren Buffett was a legend.

2012 :  I think Warren Buffett is a total cock.

 

Mon, 05/07/2012 - 18:21 | Link to Comment ThisIsBob
ThisIsBob's picture

Oh, surprise, surprise, the randy old goat is talking his book.  If he were bearish you guys would be slobbering all over him. 

Mon, 05/07/2012 - 19:59 | Link to Comment I am a Man I am...
I am a Man I am Forty's picture

Warren's opinion is whatever is good for warren, the serfs shouldn't hold cash, give all your cash to warren, don't invest in gold, give all your cash to warren, pay a bunch of taxes, warren not going to pay hardly any taxes.  The guys as bad as goldman is about being full of shit and having to use double reverse psychology on the nonsense that comes out of his mouth.  Until his stock goes north significantly he can shut the fuck up, nobody wants to listen to an investor who no longer knows how to make fucking money for his investors.

Sun, 05/13/2012 - 23:16 | Link to Comment qiongqiong
qiongqiong's picture

Our Coach Factory Outlet goal is to let everyone be able to buy the Coach Outlet USA for her own. Coach Wallets or Cheap Coach Purses in the cheap Coach Purses Outlet are available now with the best condition and Coach Outlet in the lowest price. Coach products from Coach Factory Outlet Online have classic design yet in top fashion sense. The artwork of Coach in the Coach Outlet is so delicate and distinctive, perfect in details. Coach Store Outlet is a great Coach Outlet Online store not only selling top Coach Bags but also other Coach accessories. Coach Outlet does not let you down on Coach quality, design and workmanship. Coach Factory Online also is a good place for you to enjoy Coach items. In this Coach Factory Store, you could get the best Coach Bags at the best price. So are other Coach accessories, like Coach shoes, Coach wallets or Coach jewelries. Of course, if you love other brand shoes, Nike Air Max is a top one for you! Welcome!

Do NOT follow this link or you will be banned from the site!