Word: buffett
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...reading Warren Buffett's much-anticipated letter to Berkshire Hathaway's shareholders, one can't avoid being struck by his faith in the ability of the American people to overcome adversity and to move the nation forward. This is a legacy that stretches from the Revolution to Lewis and Clark on to GI Joe. Despite Buffett's grave concern about the state of the economy now and in the immediate future one of the most striking passages in his letter is "America's best days lie ahead." The same sentence might have been written into the President's address...
...after that intersection of praising the American spirit, Obama and Buffett part ways violently when it comes to the economy. The investor's view is plainly stated: "We're certain, for example, that the economy will be in shambles throughout 2009 - and, for that matter, probably well beyond - but that conclusion does not tell us whether the stock market will rise or fall." He also believes that the government's intervention in the financial system, while necessary, will eventually cause a dangerous inflation. (See pictures from the Berkshire Hathaway Annual Shareholders' Meeting...
...Joseph Zachery weren't flipping houses or lying on their loan applications. They didn't pile up mountains of credit-card debt. They worked hard for what they had and shared their modest portions with others. Each readily admits to making occasional mistakes with money, but even Warren Buffett has made occasional mistakes with money. Their bitterness stems from a feeling that they've held up their end of the social contract, but now the terms of the deal have been rewritten by malign forces. "It's a different world and a different time," Stevens said ruefully. "Even...
...situation in Europe is not quite as dire as it is in the U.S., where plunging profits, shrinking staff numbers and bankruptcies are now all commonplace. But Europe's newspapers are struggling just the same. Investment guru (and owner of a big chunk of the Washington Post Co.) Warren Buffett saw this coming. In 2006, he explained the depressing law of newspaper gravity at a meeting of his Berkshire Hathaway Corp.: "Newspaper readers are heading into the cemetery, while nonnewspaper readers are just getting out of college. It's hard to make money buying a business that's in permanent...
...said that given the company's plans to shed more than 10% of its workforce and close some factories, "I actually think we're going at it the right way. I think Wall Street will eventually appreciate how we're managing to be proactive throughout this." Even Warren Buffett's move to invest about $300 million in the company failed to inspire much confidence from Wall Street...