Warren Buffet made some interesting comments this week:
"The government is going to play an enormous factor in our confidence."
On unemployment:
"Its going to go higher. Going to go a fair amount higher. Five years from now it should be running fine but I wish it would happen faster."
On inflation:
"Its hard to tell how severe it could be. We are certainly doing things that could lead to a lot of inflation. The best asset during inflation is your earning power - your own talent. Make yourself more valuable. The second best asset is a good business that you may own yourself or through equities."
On leverage:
“Leverage is the only way a smart guy can go broke … You do smart things, you eventually get very rich. If you do smart things and use leverage and you do one wrong thing along the way, it could wipe you out, because anything times zero is zero. But it’s reinforcing when the people around you are doing it successfully, you’re doing it successfully, and it’s a lot like Cinderella at the ball. The guys look better all the time, the music sounds better, it’s more and more fun, you think, ‘Why the hell should I leave at a quarter to 12? I’ll leave at two minutes to 12.’ But the trouble is, there are no clocks on the wall. And everybody thinks they’re going to leave at two minutes to 12.”
No comments:
Post a Comment