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Warren Buffett Favors Wells As The "Single Best Bank To Own": A Comparative Returns Analysis

Tyler Durden's picture





 

Following on his latest bash session of gold from the weekend, when Warren Buffett dedicated a substantial portion of his annual letter to shareholders for the now routine and perfectly expected gold blasting, the Octogenarian of Omaha revealed to his faithful personal scribe Becky Quick that of all banks, he would recommend Wells Fargo as the single best bank to own. Naturally, as was previously lampooned by William Banzai, Americans, even those paying a 15% tax rate, would "do absolutely nothing for Warren trading book" if they were to buy gold instead of pooling their cash into the ponzi. As for buying WFC vs. gold, the chart below will show why the world is increasingly taking any proclamations from the man whose net worth was bailed out by the government, with humor more than serious consideration.Presenting the past decade's return of Wells Fargo and of gold. No commentary necessary.

And as a reminder, here is just why Buffett happens to be a big fan of bailouts, especially of Wells Fargo.

The only conclusion we can make is that gold never benefited from taxpayer-funded cash infusions aka bailouts.

 


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Mon, 02/27/2012 - 09:34 | Link to Comment ArrestBobRubin
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The gay old Oligarch from Omaha got Mung bunged again and is still pulling it together.

Mon, 02/27/2012 - 09:48 | Link to Comment maxmad
maxmad's picture

The "Geritol from Omaha" is completely dilusional!!  How bout the Gold, Warren!!!  Don't worry Becky will wipe your arse!  Oops time for another bath, Warren!

Mon, 02/27/2012 - 10:31 | Link to Comment Comay Mierda
Comay Mierda's picture

PUMP AND DUMP BITCHEZ

Mon, 02/27/2012 - 10:56 | Link to Comment Don Birnam
Don Birnam's picture

"You know, Becky, sitting here with you, you call to mind my father -- he always liked that old Cole Porter number, 'In olden days a glimpse of stocking, was looked on as something shocking. Now, Heaven knows, anything goes !' -- Aw, shucks ! But what he did he know, anyway ? Dad was for the gold standard !"

http://3.bp.blogspot.com/_F-2ybd60FlE/Shv3bD25kLI/AAAAAAAAJSI/cpyICdETCh...

Mon, 02/27/2012 - 11:00 | Link to Comment Thomas
Thomas's picture

The Orifice of Omaha. Somehow, everytime he opens his mouth I vomit. He is so insufferable, yet the CNBC guys keep having his baby.

Mon, 02/27/2012 - 11:44 | Link to Comment FMR Bankster
FMR Bankster's picture

Buffett's a sharp guy but where you stand depends on where you sit. Let's see, Warren's an 81 year old guy who turned nothing into $45 billion in net worth. The world fawns on him, politicians come to him for advice, business owners offer him special deals because they want to be associated with him. Think he's looking to change the system?

Mon, 02/27/2012 - 09:53 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Warren 'Thanks for the taxpayer bailouts of the past 3 years or else I'd be down about 20 billion and exposed as the Crony Capitalist that I am to the bluehairs' Buffett should mainline a two liter of Cherry Coke whilst inserting a DQ Buster Bar up his own ass.

Warren 'Taxpayer Buffet' Buffett.

 

Warren's Billions Thank Uncle Sam For Bailing Them Out | ZeroHedge
Mon, 02/27/2012 - 09:55 | Link to Comment MarketTruth
MarketTruth's picture

Warren Buffett's dad, Congressman Howard Buffett, on "Human Freedom Rests on Gold Redeemable Money":

www.businessinsider.com/howard-buffett-human-freedom-rests-on-gold-redeemable-money

Mon, 02/27/2012 - 10:08 | Link to Comment LowProfile
LowProfile's picture

"Octopus from Omaha"

Like The Squid, it has it's tentacles in everything supported by America's debt serfs.

Mon, 02/27/2012 - 09:53 | Link to Comment slaughterer
slaughterer's picture

Meredith Whitney is also bullish on WFC (the only major financial she likes really): guess Uncle Warren sent her a check as well. 

Mon, 02/27/2012 - 10:04 | Link to Comment slaughterer
slaughterer's picture

All technical indicators point to the market rolling over this week, and now they roll out this plutocratic mummy to keep it from doing so.  (A slight delay in operation robo-kill phase 2--that is all. )

Mon, 02/27/2012 - 11:30 | Link to Comment TruthInSunshine
TruthInSunshine's picture

When asked his view on stocks/equities, Buffett said "it's not spring time anymore."

Hmmm.

Ole' crooked Warren just can't come to terms with uttering the words "ridiculously overpriced."

 

It's not spring time.

 

(If people can't see that Warren 'Derivatives are Weapons of Financial Destruction' Buffett, after getting deeply involved in the derivatives games only to be bailed out via Paulson/Geithner's bailout of AIG, is a piece of shit of foulest order, they deserve what they get listening to this smiling sociopath).

Mon, 02/27/2012 - 10:06 | Link to Comment maxmad
maxmad's picture

How come Warren will only be interviewed by Becky?

Mon, 02/27/2012 - 10:09 | Link to Comment Moneyswirth
Moneyswirth's picture

Apparently Joe Kernan doesn't massage ye olde testes as well as Quick does. 

Mon, 02/27/2012 - 10:30 | Link to Comment slaughterer
slaughterer's picture

On camera Becky is very professional, off camera she giggles like a horny teenage girl in the presence of Warren. 

Mon, 02/27/2012 - 09:35 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

This just in.....gold still sucks.

 

 

 

Mon, 02/27/2012 - 09:42 | Link to Comment JPM Hater001
JPM Hater001's picture

Lincoln Day Dinner season...couldnt find one person there who bought gold or silver in the last year.

Santorum won our meaningless strawpoll.

Ron Paul only beat out Chris Christy, Mitch Daniels, and Sarah Pahlin...each of whom got 1.  He got 11 and I brought 4 of them with me.

We need to work harder.

Mon, 02/27/2012 - 09:46 | Link to Comment battle axe
battle axe's picture

Buffett = Obama's Head  Cheerleader...

Mon, 02/27/2012 - 11:21 | Link to Comment Jay Gould Esq.
Jay Gould Esq.'s picture

Is that akin to a head nurse ? -- You know, the one with the dirty knees ?

Mon, 02/27/2012 - 09:35 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Buffoon.

Mon, 02/27/2012 - 09:35 | Link to Comment PaperBear
PaperBear's picture

Warren Buffett is on CNBC right now and as he was talking gold/silver have ticked up, I just had to switch off the television set.

Mon, 02/27/2012 - 09:40 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

We'll finish green today, across the board. Watch.

Mon, 02/27/2012 - 09:44 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Maybe, but even the green days are illusory now.  I consider equities "green" when they finish up, percentage-wise, relative to gold & oil.  Those "green" days have been rare and usually nullified within 24-48 hours.

Mon, 02/27/2012 - 09:57 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Illusory? Of course. But the real lesson from 2008 is, I think, any and all 'markets' can tank but equities can't have free falls because it takes much longer to get confidence back. Now, the risk is not a collapse but an absolute [nominal] take-off. Any drop from here will be managed with utmost control. Of course, retards like Tchir will be all I-told-you-so but it's self deception. In fact the entire thing is a based on people who love to deceive themselves.

Mon, 02/27/2012 - 09:50 | Link to Comment bdc63
bdc63's picture

I'll take the other side of that bet ... it's a red letter day for the DOW/S&P

Mon, 02/27/2012 - 09:36 | Link to Comment Shizzmoney
Shizzmoney's picture

The only conclusion we can make is that gold never benefited from taxpayer-funded cash infusions.

Never mind the countless end of capital and volume the bank recieved from illegal gambling websites like Pokerstars and Full Tilt (The DOJ seized 30mil in poker players' accounts from Wells Fargo in 2008), as well as being one of the major cash houses for various Mexican and Columbian drug cartels.

Nothing like the Black Market to strengthen your balance sheet.

Mon, 02/27/2012 - 09:36 | Link to Comment Dr. Engali
Dr. Engali's picture

Somebody needs to put that fossil out to pasture. Wells Fargo bought Wachovia who had purchased a California mortgage company called Golden West at the top of the market. Then Wachvioa started running that ridiculous pick a payment mortgage. As a result Wells Fargo has a ton of toxic mortgages. I'm surprised they held up this well. I suppose when you have the fed buying your crap you can.

Mon, 02/27/2012 - 09:52 | Link to Comment bdc63
bdc63's picture

I'm watching the interview live, and this characterization of what he actually said is a bit of a stretch.

I'm not a Buffett fan, but I don't think he needs any help from poetic license to look like even more of a buffoon either.

Mon, 02/27/2012 - 09:37 | Link to Comment dwdollar
dwdollar's picture

Mr. Super Duper Quadruper A.

Mon, 02/27/2012 - 09:38 | Link to Comment JPM Hater001
JPM Hater001's picture

Markets are suppose to let people fail so that the market can re-evaluate the situation and create a better paradigm to the reality...they kept that gift from our Kommrad.

Mon, 02/27/2012 - 09:38 | Link to Comment francis_sawyer
francis_sawyer's picture

In similar news...

Buffett prefers Becky Quick to Abbey Joseph Cohen, Janet Napolitano, & Christina Romer...

 

Mon, 02/27/2012 - 09:42 | Link to Comment bdc63
bdc63's picture

... and you don't? ...

Mon, 02/27/2012 - 09:47 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

In a post-nuclear sole-survivor scenario, if your choices came down to Janet Napolitano or Janet Reno, well...let's just hope you were looking at the flash.

Mon, 02/27/2012 - 10:20 | Link to Comment solgundy
solgundy's picture

could be the name,  BJ Quick

Mon, 02/27/2012 - 09:39 | Link to Comment pepperspray
pepperspray's picture

Get to the wagon!

Mon, 02/27/2012 - 09:41 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Anyone who thinks Uncle Warren isn't on the take with the complex better get his/her head examined.  He's the ultimate poster child for telling the sheep to pour whatever remaining fiat they have down the toity.

Mon, 02/27/2012 - 09:42 | Link to Comment Catullus
Catullus's picture

Buying puts on WFC every time it goes above $30 has been my trade for like the past 2 years. It's such an easy trade.

Mon, 02/27/2012 - 09:43 | Link to Comment JohnKozac
JohnKozac's picture

Plot BRK vs GLD and you get the same result.

 

Barbaric!!!

Mon, 02/27/2012 - 09:44 | Link to Comment Just Observing
Just Observing's picture

Well, so far, he hasn't answered my emailed question:

 

WHY did you sell all your silver under 10 bucks when silver clearly had nowhere to go but up ?

I wasn't really expecting an answer.

Mon, 02/27/2012 - 09:44 | Link to Comment Moneyswirth
Moneyswirth's picture

Meanwhile, this is crossing the headlines via CNBC:

Buffet: I'd Buy Up 'Millions' of Single Family Homes If I Could

I wonder how many people buy into this crap.  I'm sure there are millions of sheeple out there saying "Well, if Buffet says to buy real estate, I'm in..."

Poor saps.  They don't get it.  Buffet is part of the political oligarchy, and you're not. 

Mon, 02/27/2012 - 10:09 | Link to Comment Shizzmoney
Shizzmoney's picture

This from the same guy, Buffett, who disowned a 21 year old adpoted daughter just because she participated in "The One Percent" documentary.

What a baby.

Mon, 02/27/2012 - 10:31 | Link to Comment Gohn Galt
Gohn Galt's picture

Does anybody know if was successful in modifying the life insurance law so that he could make bets on who died?  I mean hedge against life settlements.

Mon, 02/27/2012 - 09:45 | Link to Comment Seasmoke
Seasmoke's picture

SURE IF YOU LIKE INVESTING IN COMPANIES THAT DONT EVEN OWN PROPERTY AND STEAL FROM FAMILIES THRU FRAUDCLOSURES

Mon, 02/27/2012 - 09:56 | Link to Comment chunga
chunga's picture

50 Fight Club Lawyers...one from each state...filing a motion of objection to the 50 sock-puppet AG "settlement" based on Equal Protection under the Constitution.

Read this Buffet you "Octogenarian of Omaha"...lol. You suck.

Harmon Law Continues Jihad on Justice and the Conjured Corporate "Resolution"

Mon, 02/27/2012 - 14:12 | Link to Comment AmericanBulldog77
AmericanBulldog77's picture

Harmon Law Criminals need to go to jail w/o passing Go

Mon, 02/27/2012 - 09:47 | Link to Comment Savonarola
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He tells us to buy WFC, but owns JPM in his "personal" account. Wasup widat?

Mon, 02/27/2012 - 09:57 | Link to Comment bdc63
bdc63's picture

He also owns just a wee bit of Bank of America if memory serves ... ;)

Mon, 02/27/2012 - 09:46 | Link to Comment the not so migh...
the not so mighty maximiza's picture

I watched the interview it was boring and full of BS.  I was waiting for Becky to say" Warren before we continue can i suck you off??"   Buffet has those sneaky deviant eyes you know, he was thinking it too.

 

Mon, 02/27/2012 - 09:47 | Link to Comment juggalo1
juggalo1's picture

"The only conclusion we can make is that gold never benefited from taxpayer-funded cash infusions aka bailouts."  Really?  It seems to me that gold benefitted immensely from the taxpayer-funded cash infusions.  Gold shot upwards and ever since then Glenn Beck and Roslyn Capital has been banging down my doors trying to sell.

Mon, 02/27/2012 - 09:48 | Link to Comment MFL8240
MFL8240's picture

This fucking Gold bashing by the Obama thugs is getting real old.  I detset that old man, he is a fucking liar and a crook who lives off the goverment bailouts.

Mon, 02/27/2012 - 13:22 | Link to Comment Problem Is
Problem Is's picture

Warren the Welfare Ho...

Mon, 02/27/2012 - 11:26 | Link to Comment Lucius Corneliu...
Lucius Cornelius Sulla's picture

I tried to setup an account at Wells Fargo and the experience was horrible.  It is obvious that their branches and call centers are understaffed and underqualified.  Horrible service.

Mon, 02/27/2012 - 12:15 | Link to Comment Jay Gould Esq.
Jay Gould Esq.'s picture

Next time, LVCIVS CORNELIVS, consider doing business with your local credit union.

Mon, 02/27/2012 - 09:54 | Link to Comment parch702
parch702's picture

Ohhhhhhhhh

After glancing the headline, I thought Buffet preferred oil wells to gold.

Sorry, my bad.

Mon, 02/27/2012 - 09:56 | Link to Comment Coldfire
Coldfire's picture

The Anacle of Omaha. Excrescent.

Mon, 02/27/2012 - 09:57 | Link to Comment Sandy15
Sandy15's picture

Buffet is ready to sell his Wells Fargo stock because the market is about the crash........  He knows more than anyone. 

Mon, 02/27/2012 - 09:57 | Link to Comment Xibalba
Xibalba's picture

I wonder what Mr. Buffet Sr. (his dad) would have to say about that? hint:    

 

"Human Freedom Rests on Gold Redeemable Money"

By HON. HOWARD BUFFETT

U. S. Congressman from Nebraska http://www.fame.org/pdf/buffet3.pdf

Mon, 02/27/2012 - 10:03 | Link to Comment the not so migh...
the not so mighty maximiza's picture

Nice!!!!!!!

Mon, 02/27/2012 - 10:38 | Link to Comment pepperspray
pepperspray's picture

hmmm

Mon, 02/27/2012 - 13:21 | Link to Comment Problem Is
Problem Is's picture

+1... Excellent...

Intelligence skips a generation, stupidity doesn't...

See: Bush Sr/Jr and Senator's sons Dodd & Gore...

Mon, 02/27/2012 - 09:59 | Link to Comment AU5K
AU5K's picture

BRK's huge quarterly dividend shows how much better it is to own equities than non-interest bearing gold.  What a complete hypocrite.

Mon, 02/27/2012 - 10:00 | Link to Comment Monedas
Monedas's picture

Buffy is Obama's financial lawn caddy !  Monedas  2012   Wells Fargo Livery Stable Boy

Mon, 02/27/2012 - 10:00 | Link to Comment bdc63
bdc63's picture

"The luckiest person being born in the world today is the baby being born in America ... Our future is just fantastic ..."

Holy shit, did he really just say that?

Mon, 02/27/2012 - 10:04 | Link to Comment Moneyswirth
Moneyswirth's picture

Apparently he didn't read "Extend And Pretend Coming to an End"

What a maroon...

Mon, 02/27/2012 - 10:50 | Link to Comment lizzy36
lizzy36's picture

Yes.

If that baby is born via the lucky sperm club (top 1%) i agree.

If that baby is born to the 80% of Yanks that will be the first American generation perhaps ever, that has lower living standards then their parents, then he is dead wrong.

This statement is all about the benchmark. Because Becky was to busy arranging her hair, she didn't ask the follow up question.

A 3 hour American propoganda break, brought to you by GE/Comcast.

Mon, 02/27/2012 - 10:03 | Link to Comment ahamer
ahamer's picture

Sad that he won't just fade away.............

Mon, 02/27/2012 - 10:05 | Link to Comment ZeroPoint
ZeroPoint's picture

Hmm, I guess Buffett is betting the Federal Reserve will not let Wells Fargo off life support either.

Mon, 02/27/2012 - 10:11 | Link to Comment Everybodys All ...
Everybodys All American's picture

Could you in your wildest dreams think Buffet would talk badly about the economy or this administration? It's just not ever going to happen. He is a total and complete sellout to Americans who get up and go to work thinking they are playing on a level playing field. He is all that is wrong with this country right now. A well connected crony fascist opining like he is just been lucky.

Mon, 02/27/2012 - 10:25 | Link to Comment hellas4life
hellas4life's picture

what about all time?

Mon, 02/27/2012 - 10:36 | Link to Comment realtick
realtick's picture

The bank stocks topped in the fall of 2009, Wells Fargo in early 2010, and they've all been trending down ever since:

http://chartistfriendfrompittsburgh.blogspot.com/2012/02/weekly-charts-2012-02-25-bank-stocks.html

 

Mon, 02/27/2012 - 10:37 | Link to Comment Shibumi2
Shibumi2's picture

"The Enima from Omaha"

That uber-hip old fraudster...who the hell listens to that piece o' shit anyhoo.

 

Dear uncle fester...proclaming loudly that rich-o americans MUST pay their fair share, then takes, indirectly, 7 billion in government handouts...is a complete fraud!

 

Instead of that route, how about the "pervert of the plains" publically declare that no company held by BERKSHIRE HATHAWAY will accept ANY form of governmental support or bailouts...directly or indirectly. And that any company he holds a minority position in must adhere to that standard or BHK will divest any holdings immediately.

 

Let's see if the old codger from the "greatest generation" will do something meaningful....AFTER which he may offer his opinions on gold when he resides in the real world with the rest of us not receiving governmental insurance against loss.

Mon, 02/27/2012 - 10:42 | Link to Comment Zero Govt
Zero Govt's picture


"Warren Buffett Favors Wells.."

Warrens 'in' ...the top must be in ...stempede for the Exits, Warren's the bag holder (ditto trains, BoA, Tesco and the US President)

Mon, 02/27/2012 - 10:44 | Link to Comment Anne Ominous
Anne Ominous's picture

America's idol is paper and paste,

Liquid and green and soon debased.

Buys fools gold and old lies retold,

The once bold and now broken mold,

Warren's sold-silver tongue has bitter taste...

Mon, 02/27/2012 - 10:44 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

I hear that Warren has Rothschild blood....No...

Oh....It's just blue like theirs.

And they hang out......with Arne too

Mon, 02/27/2012 - 10:48 | Link to Comment GrinandBearit
GrinandBearit's picture

I am totally sick of seeing/hearing this senile buffoon say how great America is and banking stocks are a buy.  This morning I heard him say: "kids being born in America right now will have a better life than John D Rockefeller had", I almost threw up my breakfast and had a heart attack. 

 

 

Mon, 02/27/2012 - 10:53 | Link to Comment Darkness
Darkness's picture

He is just the outlier that has been flipping heads for 50 years... You can only flip heads so many times though and it looks like his luck may be running out:

http://finance.yahoo.com/news/sometimes-even-warren-buffett-gets-wrong-2...

Mon, 02/27/2012 - 10:57 | Link to Comment Zappalives
Zappalives's picture

The ultimate insider parading on the teevee like a man of the people...........so pathetic.........takes your breath away!

Mon, 02/27/2012 - 10:57 | Link to Comment johnnymustardseed
johnnymustardseed's picture

If Wells was such a great bank, why do they need to borrow hundreds of billions from the FED to stay afloat?

All the Primary dealer banks are bust and they continue to suck the taxpayers dry with their borrow from the FED at a quarter of one percent and then buy Treasuries and screw us out of $400 billion a year!

Mon, 02/27/2012 - 11:13 | Link to Comment TeMpTeK
TeMpTeK's picture

"The only conclusion we can make is that gold never benefited from taxpayer-funded cash infusions aka bailouts"

 

Actually...I think gold has benefited from every act of govt interference in markets for the last 100+ years...

Market interference Bitchez!

Mon, 02/27/2012 - 13:00 | Link to Comment slaughterer
slaughterer's picture

WB will always talk up stocks any chance he is given.  His company has no short book. 

Mon, 02/27/2012 - 11:40 | Link to Comment bilbao
bilbao's picture

BERKSHIRE HATHAWAY HAS BARELY BEEN ABLE TO KEEP UP WITH A SHORT TERM TREASURY FUND OVER THE PAST DECADE....

http://db.tt/0NemSgmf
Mon, 02/27/2012 - 11:54 | Link to Comment FMR Bankster
FMR Bankster's picture

True, but that still puts him about 40% ahead of the average stock fund.

Mon, 02/27/2012 - 11:39 | Link to Comment loveyajimbo
loveyajimbo's picture

Is this really Lloyd Blankfeins chubby brother?  Oy VEY!!!

Mon, 02/27/2012 - 11:39 | Link to Comment CoolBeans
CoolBeans's picture

The O'cackle from Omaha is reduced to stock pumping...

Mon, 02/27/2012 - 12:29 | Link to Comment Anarchyteez
Anarchyteez's picture

This old fuck just showed how stupid most
the babies born in Amerika over the last
seventy years are.

Pump this Warren (middle finger inserted), you
Crusty old fuckstick, look at the chart here
at ZH you Fn motard!

Mon, 02/27/2012 - 12:32 | Link to Comment dark pools of soros
dark pools of soros's picture

'would "do absolutely nothing for Warren trading book" if they were to buy gold instead of pooling their cash into the ponzi.'

 

--  but what of the money that is now in the hands of the gold seller?  Are we saying that we just want gold price to rise rise rise to pool away money as a whole from the great ponzi?  So the only way to attack the ponzi is to pay higher and higher amounts for gold?

 

so paying higher prices for gold is really 'doing God's(Tyler's) Work'?

 


Mon, 02/27/2012 - 12:33 | Link to Comment Anarchyteez
Anarchyteez's picture

FYI, motarded is more tarded than retarded.

Mon, 02/27/2012 - 12:41 | Link to Comment benb
benb's picture

Is this the same Warren Buffet that sits around playing bridge with the eugenics criminal Bill Gates discussing how they are going to inject an unsuspecting public with vaccines that sterilize them, that cause spontaneous abortions, and contain live cancer cells? Maybe it’s a different Warren Buffet. And Wells Fargo…isn’t that the bank that was convicted in federal court just last year (along with its Wachovia unit) for laundering 386 billion dollars in cocaine and heroin money? (And nobody goes to jail-Wachovia was even on record leasing the drug jets in its own name.) Maybe it’s a different Wells Fargo because the Wells Fargo I’m thinking of is one of the six banks that own the illicit Federal Reserve and function as a holding co./front for the ruling oligarchy.

Mon, 02/27/2012 - 12:39 | Link to Comment Widowmaker
Widowmaker's picture

"I would put a house in every pot if it was practical."

Warren, when you are done sulking in your hubris get me some fascist fries and blow!  Don't act like you don't know what I'm talking about.

 

Mon, 02/27/2012 - 13:00 | Link to Comment zebrasquid
zebrasquid's picture

Warren Buffoon?  He's still alive?

Mon, 02/27/2012 - 13:17 | Link to Comment Problem Is
Problem Is's picture

Tyler: At some point can we relegate this moron to Senile Cramer with a Rug irrelevance?

Whether you like ole Karl D or not, he led with this quote:

"Buffett... 'In these cases, the evicted homeowner was the winner, and the victim was the lender.' "

Banks Are the Victims
We all know the phony fuck owns butt loads of Wells...

So why not dismiss him as an irrelevant douche and ignore his bullshit...  As a person who loves sarcasm and humor, this douche isn't even funny...

When there are still ample laughs to be had with Timmay, Bennie, Bullshit Barry and Jamie & Lloyd...

Mon, 02/27/2012 - 13:20 | Link to Comment Alchemist1
Alchemist1's picture

Gold is a classic bubble.. A bubble requires a good story coupled with a ton of liquidity.  We have seenthis in Internet stocks and we have seen it in housing (they dont make any more land).. Since 2000, CPI indexs is up35% and gold is up 550%.  Anyone pointing to past performance as a way to build a bullish thesis is deluding themselves.  Price matters.  Every classic "inflaiton hedge" is overpriced and inflation is not even here.  We are still in a deflationary deleveraging environment. Gold chart is starting to look similar to what we saw in 2008 and with potential hard landing in China this is likely to be the first year wher gold finishes down

Mon, 02/27/2012 - 19:23 | Link to Comment Meatier Shower
Meatier Shower's picture

If the Gold chart is starting to look like it did in 2008, that is good news. Remember what happened to the price afterwards? The price since the lows of 2008 has gone up about 100%. Yeah, I want in on that again.

Bubble? Not even close.

Mon, 02/27/2012 - 19:18 | Link to Comment Meatier Shower
Meatier Shower's picture

It looks like it's time to add old Warren to "The List".

Mon, 02/27/2012 - 21:07 | Link to Comment goldenbuddha454
goldenbuddha454's picture

The Oracle doesn't know his Orifice from Omaha!  Banks are the whipping boy of 2009 forward.  Who in their right mind?

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