PatriotsReign

A month ago or so Warren Buffet invested $5 billion in Goldman Sachs. With all the fanfare of a great American investing in the markets to help stem the crash!

"Wow! If Mr Buffet has that kind of confidence, maybe I'll put my money back in!" was the thinking behind all the publicity.

Well folks....'ol Warren's not looking too bright now is he?

I thought it was laughable back then and now we have proof....


Dow Jones - 7,552

wistahpatsfan

That was strange. He seemed to be immitating Thomas Lamont in 1929, but Buffet should have been aware of the futility of such action.

MrBigglesWorth

every single person is looking stupid. who would have thought it would be at 7500?

now what if you buy today thinking this is the bottom and two months from now it is at 5500?

at least he's willing to take a risk. over the long haul people believe the economy will be back at 11000 or 12000. i'm very skeptical at that.

will we ever experience a period of time that was based on so much credit and inflated prices where it was a spending spree? maybe in 75 years just like the great depression became a long distant memory.

at least he's trying to instill confidence and be patriotic. i can't fault him for that. bill gates on the other hand wants foreigners to get visas so he can get labor versus our own citizens

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"There are two categories of superbowl participants that nobody remembers:

The team that lost the game and the team that only won one." Dwight White- Steelers

PatriotsReign

I don't fault Buffet as much as I do the media attempt to rally the nation. It was just stupid. No single person is going to change the direction of the markets long-term. I wouldn't be naive enough to call the act "Patriotic"....remember, he has billions in Berkshire-Hathaway that would benefit directly from a market turn-around.

As far as your comments regarding Gates....If he is trying to get cheaper labor through visa's...then "screw him too". That sounds ridiculous, but somehow I'm not surprised.

maverick4

Intelligent investors called this outcome months ago. I have posted Dow 6000 back when we were still in Dow 5-digits. I think Buffet knew he was literally burning money but he is a patriot.

Your last sentence is completely moronic because as Gates said in his statement, we want to keep the world's smartest people in America. A-students are worth way more than C-students, and the hard reality is America does not have enough A-students. Look in America's graduate schools, half the students at the top schools especially in science and engineering are foreigners. Corporations are going to use the smartest people wherever they are located, and the most talented people create secondary jobs for the less smart around them. By keeping the brightest foreigners out of America, you are basically enriching those countries (India and China). Your thinking is short-sighted and the same faulty reasoning that will reduce America to a second rate power if followed through.

shmessy

Your first sentence is oxymoronic. Intelligent investors never "make calls" on the direction of the market. Forecasting the market is voodoo.

Dow may go to 6000 or it may got to 9000 before the end of the year. Those that think they can see the future of it are full of baloney and themselves. The only ones who make these "calls" in public are doing so to drum up business for their firms - - the TV outlets predicate giving them the free pub on getting TV ratings by making forecasting declarations. No one on Wall Street can tell you when the next plane will hit a building or when a well-run company with a great product will have its stock price go down the toilet because a Steve Jobs may have cancer. It's all voodoo in the short-term.

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"They (Patriots) may be the greatest team ever" - Chris Mortenson, January 18, 2005 on espn.com

MrBigglesWorth

some of you posters just blow my minds. instead of having a mature intelligent debate the words "naive" and "moronic" are injected.

__________________
"There are two categories of superbowl participants that nobody remembers:

The team that lost the game and the team that only won one." Dwight White- Steelers

MrBigglesWorth

I guess our country sucks if we can't find 1000 students that would want jobs from gates and are qualified.

if this is the case of us being so stupid we're doomed as a country right now

__________________
"There are two categories of superbowl participants that nobody remembers:

The team that lost the game and the team that only won one." Dwight White- Steelers

Run DMC

I think we've bottomed for now. Watch for big reversal tomorrow. We are oversold. Bottom at 6300 on Dow next year. Peace out.

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PatriotsReign

As far as "predicting", I'll agree with you. If we could do that, we'd all be retired playing the day-trading game.

But as far as our short to mid-term future goes, I'd say it's pretty simple to say the market is not going to trend upward for quite a while.

Given the period of deflation we are entering where everything is shrinking, the market is likely to follow. Is that a guarantee? Of course not, but I'd bet on it.

And if you were pressed, I'd say you'd put your money on that horse as well.