Last year, I definitely ruffled a few feathers when I characterized Warren Buffet as the world's worst investor. I think it was after after he paid top dollar for the bond insurers, banks, and investment banks, to name a few of his "could anyone be more clueless?" gaffs. It's nothing personal, Warren is a really likable deer in the Great Deflation's headlights, and a terrific role model on a personal level.
But let's be honest, losing $25B (est. by Forbes) in one year is an extraordinary task and, as forecast, very likely places Warren as the worst performer of the 6.76B alive on Earth. That includes at least three or four people successfully raised by wolves. It does not count dead people, but it could.
Yet, amazingly, somehow, the world's worst investor, the bottom guy on the planet, dead or alive, is a special economic adviser to the president.
What could be more 1929esque?
Monday, March 16, 2009
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Very funny
ReplyDeleteLOL. Well said
ReplyDeleteArmagedon from MW
Absolutely! Warren has managed to be in the right place at the right time, buy preferred/preferential deals not available elsewhere and he still managed to destroy $25 billion. He also bought Home Services of America (Real estate brokerage) for top dollar, by the time the collapse is done that too will be nothing more than history.
ReplyDeleteYour blog is great FDRAOA,
Wilsondidit form MW
I wish some one would ask him in a interview, what is was like watching 25 big ones, go up in smoke, instead of ignoring it all on tv.
ReplyDeleteThe answer to your question, probably, on the what could be more 1928esque would be more of Bush
just a guess