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Suck It Up Buffett: BRK/A Below $100,000 For First Time In 20 Months
Following yesterday's 1-2 BAC/WFC downgrade double penetration (which the market will very soon realize has substantial impacts on money market and other prime money access) performed on ye olde' Octogenrian of Omaha by Moody's (in which, adding insult to injury, Buffett is an investor as well) the market has had a violent reminder that Berkshire is nothing but a procyclial and levered derivative of downside market risk courtesy of the "insurance" company's massive bet that the market will only go up, yes we are talking about all those sold index puts. As a result, for the first time in 20 months, anyone owning a share of BRK/A can no longer say they have over $100,000 with the stock dropping to 99,275. And if, as the market indicates, Buffett's buddies at the global central planning committee no longer have control of the markets, pretty soon the thousands separator comma will be converted into a decimal point.
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My call? The company will survive.
The Fed will be replaced with "The Birkshire People's Bank", which will bring Obama a landslide win in 2012.
Ron Paul will lead the revolution to take back the country... Civil unrest will ensue
Does Canadians play a role in this? We stay best friends with the US, right?
Don't change your mind on this one.
The U.S. doesn't have friends or allies in a conventional sense.
Just understand where you fit in the corporate gears. Don't apply human attributes to a machine.
What about you? Can we be friends?
After raping taxpayers for a minimum of 17 billion via the TARP and AIG Rescue Packages (which rescued many, many counterparties of AIG and holdings of Buffett), and probably having received government (ala taxpayer) largess many times over that amount through the years, it would be pure & sweet poetic justice to see Buffett and Munger both die impoverished, like rats in the filthy back alleys of some slum.
Yeah, was watching a documentary the other night about the 'Plan Red' scenarios in the 30s; invade Canada and take on the British Empire for control of the world.They even went so far as to build 2 'civilian airfields' and one more made from perforated runway matting (so the grass would grow through it and hide it from observation, apparently).
Interesting to watch.
http://en.wikipedia.org/wiki/War_Plan_Red
Seems the US has never had friends or allies in a conventional sense.
"double penetration"
-> images.google.com -> SafeSearch off
Enjoy.
People have friends. Countries just have interests. And sometimes other conuntries interests match ours. That's pretty much the case with Canada. They have oil to sell, we need to buy oil, ect, ect.
Do you honestly think American soliders would like to invade Canada? In war, you have to have hate or fear of your enemy.
I would like to think that there is a lot of shared families between our borders.
People have friends and families. Countries are made of people.
As with other notable -- or rather, notorious -- names of late ( NFLX, HPQ...you recognize the pattern ), Fidelity is also a large institutional holder of BRK ( A and B ). Indeed, FMR's flagship Contrafund lists Berkshire-A as the third largest holding.
On the Barry O'Bama/Uncle Warren front, Buffett is participating in a Chicago fundraiser for Obama 2012. Sorry, people: plutocrats and crony capitalists only, as it is a $38,000-a-plate affair.
What, no deeply discounted $25,000 plates near the kitchen door?
Discounts are available, but the main entree will be provided by Hardee's. Dessert courtesy of Friendly's.
You need to throw in the words "glorious" and "democratic" in there as well.
Yes. And Secretary of Extra-Terrestial Affairs Kucinich will push for a ban on all earthly currency.
Yes. But will the patient live?!
It depends on how patient you are.
Probably Stumpy, but in what form? They may keep it together while the Old Balls is alive and well but the moment he kicks the can you'll see calls to carve it up and feed it to private equity. (which would make the old man spin in his grave) I'm very pleased to see catastrophe claims and a weakening economic backdrop hitting at the same time as it will put pressure on earnings... oh, and he can kiss his BAC investment goodbye too.
If there is some sort of Ponzi Scheme Ethics (PSE?), US owes one to Buffet and its company. Buffet agrees to ride a cycle down, but to be one the best cycle up.
Perhaps...if he's alive by then.
His mind is cloned on a supercomputer somewhere. His DNA has been fully sequenced. His body will be frozen in carbonite. He will ride the next leg up!
HH called it! Five figures to stay?
'And if, as the market indicates, Buffett's buddies at the global central planning committee no longer have control of the markets, pretty soon the thousands separator comma will be converted into a decimal point.'
Long Overdue.
Hey how much has he lost on his BAC investment? I remember the headlines on the day he invested everyione was like Buffet made over 1 billion today what a genius, then nothing, silence.
How much has he lost?
Maybe Gates can short BRK with the proceeds going to his foundation?
So when is this POS will have a heart attack?
I've got Charlie in my Dead Pool for this year.
Gasbagarino or Munger?
Munger
I love the smell of napalm in the morning.
http://www.youtube.com/watch?v=sBksHaTQCbU
LoL!
It's the "buffett tax" in action.
BAC is kicking his ass!! Right on!!
Is he still short all of those puts?
He'll die broke.
time for Oligarch bashing at ZH. Well, well, there are some who put their money to save king and country, like true soldiers. Having said that, I think behind the scenes if not on this play, then on others, there will be repayment through "regulatory capture" to soldier-Oligarch. Love the sound of that catch phrase...
Yeah and BAC is at 6.22. Nearly a dollar lower than his buy in price. Ha! I would rate this event Quadruple A!
He didn't buy the common although he got warrants thrown into the deal to buy some at around $7 I think.
He's the richest man in the world for a reason...
The richest man in the world? Sure if you can get Govt guarantees on your investments. Ok dipshit..perhaps you are planning on taking Becky Quick's place fellating the Oracle?
http://finance.yahoo.com/career-work/article/113540/forbes-400-richest-americans-2011.html?mod=career-leadership
Oh my goodness look at that...second richest man in the world. You got me.
The assets behind BRK (and Warren's wealth) are arguably more robust that Bill's are however.
You obviously can't read. The article says nothing about Richest in the World.
Whatever. So he's #3 in the world. BFD
He's the third richest man in the world for a reason....
There - you happy now?
And again, I think I'd rather have Buffett's portfolio than Carlos Slim's even if Slim's is currently higher on a mark to market basis.
f r e e f l o a t........i n g a w ay
BRK doesn't have much of a history of stock buybacks...be interesting to see if/when they go there again...
They still have...what ~$40b in cash?
Id love to see Buffett die penniless.
Buffet is now the most hated businessman in America.
Even "Bathtub" Becky has lost interest.
And what business are you in?
Maybe buffet and Kruglass can dial up an alien invasion...
now he really will pay less taxes...
But leverage and high speed trading add liquidity to the markets; LIQUIDITY!
At least he won't have to pay capital gains taxes. We wouldn't want him to go hungry.
My favorite holding time? Forever.
HAHAHAHAHA
The poster boy for buy and hold retires in disgrace. I love it.
Word is the entire State of Nebraska is riding on this guy being right as well. GO CORNHUSKERS!
What a way to go.
Mmm, down 20% on the year! I guess that means his taxes will be lower than his secretary's? :-)
Bank run in Germany? Rumors about Commerzbank limiting pay-out to 2000 €
So why does everyone here hate Buffett? And is ZH really predicting the stock will drop 99%? I guess it will be another conspiracy when it is still over $1,000 in a few years.
Because hes just another example of the parasites that are sucking this country dry. He made his wealth off of insider trading and utilizing political contacts.
Now this isnt new, theres a lot of guys doing it.
But why shouldn't I enjoy watching someone taking a haircut, that has all those advantages, when a lot of the common people in the market ( if there even is any more ) are getting fucked.
I hope he ends up on a heart lung machine after today.
That is all.
I just think with all the evils in government and politics he ranks pretty low on the scale of people ruining the world. He doesn't ask for bailouts, he doesn't take risks or leverage to the extent of the big banks, he suggests that everyone who leads a company into bankruptcy or bailouts should be left completely broke. I don't think he holds a candle to the big bankers, the HFTs, the bernank, and most government officials. It just seems like misdirected hate and the whole double penetration-i hope he dies broke-i hope he ends up on a lung machine today could be reserved for someone else. How is he sucking the country dry?
I just think with all the evils in government and politics he ranks pretty low on the scale of people ruining the world. He doesn't ask for bailouts, he doesn't take risks or leverage to the extent of the big banks, he suggests that everyone who leads a company into bankruptcy or bailouts should be left completely broke. I don't think he holds a candle to the big bankers, the HFTs, the bernank, and most government officials. It just seems like misdirected hate and the whole double penetration-i hope he dies broke-i hope he ends up on a lung machine today could be reserved for someone else. How is he sucking the country dry?
If you are an advocate for Buffet on this forum, you should suggest an alternate target for the excess anger and hate.
I suggest naming names. Any jewish sounding last name will do. Prove you belong here.
Blame it on Canada?
Naturally!
http://www.youtube.com/watch?v=0SDrqa-eTXU
Bring it on, Bitches!
I am not an advocate for Buffett. Just trying to understand the hate because I don't. Just because I don't hate him doesn't mean I love him.
if you choose, as i do, to try whenever possible (and this isn't often) to keep things simple, than in my mind wb represents the most fundamental of our financial and economic morass - moral hazard. just think of his bac deal recently.
of course there are many other reasons to severely dislike and question the man, think his exclusive cheeseburger and cheery coke diet, or his affinity for becky quick, or his lack of investing acumen, or his msm demagog status - these all piss me off.
Buffet is a major stockholder of Moody's. There is not even a slight chance that he wasn't aware that this is coming....
[Video] Stephen Roach takes U.S. Fed policy (and government) to task this morning on CNBC, then talks about China
http://www.fundmymutualfund.com/2011/09/video-stephen-roach-us-did-not-l...
Waiting for Buffet to buy preferred stock of Greece...
In Cockney slang there's a word that rhymes with Berkshire Hunt...I wonder what that could be?! Hence the term "he's a "Berk"!
Dude, Becky Quick is going to queef on you for this post.
You'd think the old fool would spring for a new set of teeth for that horsehead.
Couldn't happen to a nicer guy...
Buffet is an outspoken advocate for an onerous Federal Estate Tax. He believes Uncle Sam is ENTITLED to collect a stiff Federal Estate Tax upon the death of the bearer of wealth. That is a purely rotten notion (imo).
Sleaze bag in a warm old man/Grand Dad wrapping paper from all I've learned about him
it's evil, stealing a person's assets when they die, fucking grave robbers
"The Buffet Bank" all you can borrow, for one small fee!
looks like Warren has outlived his reputation
Touche'. WB rode the largest bull market(s) in history w/his "value" investing approach.
As the old saying goes: Never confuse genius and a bull market. Warren is no genius.
RIP Bruce!
El-Erian: "World is on the eve of the next financial crisis"
Thought we were at dawn at least
Come on Uncle Warren, please throw a few more billion at C, AIG and GM... please.
Any minute they'll trot him out telling the sheeple to "buy America!" - guaranteed.
I hope he dries up and blow away.
Mr. Buffett is indisposed at the moment. He's still playing in the bathtub.
With his new hair dryer???
I'm Warren Buffet and I like to preen
'specially with Becky on the tee-vee screen.
I'm the 'Oracle of Omaha' dont you know
With my snout buried deep in bailout-dough.
It's inside-deals after which I hunger
If you dont believe me - go ask Charlie Munger!
While pleadin' in public to pay more tax
I'm shovellin' bank-liabilities onto your backs!
'Cause after all - though I do like to preen,
I'm the world's biggest Welfare Queen!
But it dont really matter - 'cause to plain ol' folk
I'm just Good ol' Warren there sipping my coke!
- The WallSt Rapper
<<whilst shaking head, cueing music>> Anacle, Anacle, what are they feeding you? Anacle, Anacle, it's not your fault.
yea ............ suck it up, Buffet . a-hole.
PM are melting down. Glowing red eveverwhere.
See ya when it starts glowing green again.
when can wb exercise those warrants and get out of bac? anytime?
Hope the scumbag losses everything! Shit company that should have gone under if not for Govt bailouts in 2009. Hopefully the Old asshole will buy some more BAC??
How dare Moody's suggest that BAC might not be bailed out. What are they suggesting, that politicians' promises not to bail out any more banks were serious? That politicians have integrity? They've really gone off the rails.
Are you guys really mocking a guy whose company's shares trade now in the measly 5 figures?
yes
But I don't think he's stupid, just corrupt. He's betting on a bailout, like he successfully did with Goldman. Helps when you're buddies with the pres.