AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Aug 8, 2011 13:19:10 GMT -5
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mmhmm
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It's a great pity the right of free speech isn't based on the obligation to say something sensible.
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Post by mmhmm on Aug 8, 2011 13:25:01 GMT -5
Where in the linked article does it say Warren Buffet was downgraded, paul? It's talking, as I read it, about the downgrading of the US by S&P, not about Warren Buffet being downgraded. Please change your title to reflect same, unless you can show me what I'm missing. I admit, I'm trying to herd cats at the moment ...
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mmhmm
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It's a great pity the right of free speech isn't based on the obligation to say something sensible.
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Post by mmhmm on Aug 8, 2011 13:26:19 GMT -5
Thanks, paul.
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floridayankee
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If You Don't Stand Behind Our Troops, Feel Free to Stand in Front of Them.
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Post by floridayankee on Aug 8, 2011 14:27:01 GMT -5
"If nothing else takes place, meaning, if all other variables hold and there isn't say, a new problem in Europe, it won't make any difference," he stated.
"Think about it. The U.S., to my knowledge owes no money in currency other than the U.S. dollar, which it can print at will. Now if you're talking about inflation, that's a different question."
Well, shit, we're not broke...we still have checks left. Time for a spending spree. Fire up them presses and bring on the stagflation. We can party like it's the 1970!
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Aug 8, 2011 14:57:53 GMT -5
Um, no, Warren- inflation isn't a different question. I really hate when I'm smarter than a much older Billionaire-- because it makes me stop and question myself for hours. Am I just being cocky? Does he know something I don't know? Is he really that stupid? Is there some other agenda?
Anyway, inflation isn't a different question, it's THE question: will the US have the integrity to a) Pay what it owes under the terms it agreed to when it is due; b) Default? If we monetize the debt, the dollar- and the country collapses. Period.
It's not a different question. It's the central question of this whole debate. Is the downgrade warranted based upon some doubt being cast upon a) above? Yes, Warren, it is warranted. In fact, far from super-duper quadrupple AAAA++++ status-- the US probably doesn't even deserve an AA+ rating.
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Driftr
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Post by Driftr on Aug 8, 2011 15:03:12 GMT -5
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Post by Savoir Faire-Demogague in NJ on Aug 8, 2011 15:25:51 GMT -5
I've heard/read in the last few years that Buffett is slipping. He's not the man he used to be. Others say he is going senile.
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Post by magichat on Aug 8, 2011 15:31:20 GMT -5
You had a positive opinion of buffett in the first place? How odd. The man deserves no respect. He's somewhat smart businesswise, got lucky and then hit it big enough he couldn't fail. He buys a company and the stock goes through the roof becasue buffet bought it, not hard to make money that way.
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floridayankee
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Post by floridayankee on Aug 8, 2011 15:38:46 GMT -5
It's not a different question. It's the central question of this whole debate. Is the downgrade warranted based upon some doubt being cast upon a) above? Yes, Warren, it is warranted. In fact, far from super-duper quadrupple AAAA++++ status-- the US probably doesn't even deserve an AA+ rating. Our fiscal policy is unsustainable and our government is entirely too dysfunctional. IMHO, S&P is sending us a complementary shot across the bow telling us to get our shit in order before the next debt ceiling is hit and the real pain begins.
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Deleted
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Post by Deleted on Aug 8, 2011 15:45:24 GMT -5
Magichat
I dont like everything about the guy, but i totally disagree
He has talent....and his writings (Berkshire annual reports) show a very keen intelligence, and an ability to judge the marketplace better than most
I only wish i had found his writings earlier in life.....i would be retired by now
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Aug 8, 2011 15:58:25 GMT -5
It's not a different question. It's the central question of this whole debate. Is the downgrade warranted based upon some doubt being cast upon a) above? Yes, Warren, it is warranted. In fact, far from super-duper quadrupple AAAA++++ status-- the US probably doesn't even deserve an AA+ rating. Our fiscal policy is unsustainable and our government is entirely too dysfunctional. IMHO, S&P is sending us a complementary shot across the bow telling us to get our shit in order before the next debt ceiling is hit and the real pain begins. It's definitely a love tap. We should heed the warning.
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Aug 8, 2011 16:01:30 GMT -5
Magichat I dont like everything about the guy, but i totally disagree He has talent....and his writings (Berkshire annual reports) show a very keen intelligence, and an ability to judge the marketplace better than most I only wish i had found his writings earlier in life.....i would be retired by now Buffett was smart enough to recognize a limited time opportunity to take advantage of the information in Graham's "Security Analysis" to find undervalued stocks, and hold them long term. For a variety of reasons- that opportunity has largely passed us by. This is why Berkshire is having trouble. Their strategy relies on a whole host of assumptions that no longer hold true- starting with, a company can and will be around "forever".
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Deleted
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Post by Deleted on Aug 8, 2011 16:57:02 GMT -5
Super-investor and chairman of Berkshire Hathaway Warren Buffett is puzzled by Standard and Poor’s decision to downgrade U.S. government debt
I like Warren. I think he is a brilliant man. I have to say though that as he's getting closer to the end of his life, his principles are changing. I guess he doesn't have to worry about it because no matter what he has enough left to live out his days.
I did find it incredibly funny (the odd sort of funny) when he came out & said that the rich should pay more taxes. After all BH was set up to minimize the amount of money that it pays in taxes & has always been run in such a way to limit taxes paid. Warren was the one that set it up that way & Warren is also the biggest stockholder of BH so he could out vote everybody & change it if he wanted to.
Just seems to me that either Warren is getting senile or Warren is trying to buy his way into heaven. Either way it goes, he says one thing & then runs his fund completely opposite.
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handyman2
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Post by handyman2 on Aug 8, 2011 19:53:11 GMT -5
I have read a lot about the man in the past. One thing i concluded about him and how he always seem to come out on top. he tells you what you should think but he does not really tell you what he is thinking. The old shadow boxing trick. he points you one way and he goes another. Is he losing it? I don't know but I would never bet against him coming out on top. When he talked about the wealthy paying more he was not talking about the corporations under his control as many thought. he was talking about personal wealth.
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Deleted
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Post by Deleted on Aug 8, 2011 20:19:22 GMT -5
When he talked about the wealthy paying more he was not talking about the corporations under his control as many thought. he was talking about personal wealth.
Handyman2 I know! He is paid a flat $100,000 per year (he owns enough of the company that he can set his own salary). You can imagine how much taxes he pays on that salary after his lawyers list all of the tax breaks he gets.
Then his real money is either sheltered in BH were they don't pay short term gains nor dividends so he can't be taxed on them or it's in that charity fund he set up (read that as tax shelter). Damn straight the man pays low (almost no taxes). For him to advise anyone that they should pay more taxes is two faced.
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Aug 8, 2011 22:54:27 GMT -5
It probably wouldn't surprise you to know how precious few people know there is a difference (between personal and business worth).
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