Warren Buffett is, or at least was, considered an American original, an investing genius and a straight-shooting midwesterner with all the character and values that made America great.
His foray into politics, backing Obama, has not done this image any good. Nor has his push for raising taxes, which will not affect him in any material way if at all.
Even those who still respect Mr. Buffett wonder why he doesn’t get off the stage. His continued appearances, folksy and entertaining, are tarnishing what many considered an impeccable reputation. Like his political choice, Mr. Buffett runs the risk of overexposure and becoming a public nuisance.
Much has been written about his recent investments into Goldman Sachs and Bank of America. These were hardly arms-length investments and yet they still may not work out. B of A looks especially shaky.
Peter Tchir reflects on the state of the economic situation in general and Warren Buffett in specific:
And I can’t help but mention that BRK/A hit 80k back in 1998. It is at 105k right now. That is a 30% total return in more than 13 years. No dividends for shareholders in that time. In that time, every word he utters is broadcast widely. Governments do as he says. Investors pile into his trades after he is already long (only employees get to front run). He owns rating agencies, but then publicly comments on what things should be rated. With all the advantages, the returns, frankly, don’t seem that great. Are we as a country, ignoring some people, who may not always be bullish, but at least have been right more often than not in the last 10 years? As a business and a country we should be looking for other oracles, and some of the best out there aren’t always positive, but maybe that is what we, collectively need, a harsh dose of reality.
Mr. Buffett is in the shadows of a great career. He should stop squandering what personal capital (and I don’t mean money) he has left and spend more time in the shadows. Let him dress up as Santa at Christmas and leave the adults alone for the rest of the year.
The same thing happened to John Glenn. I lost all the respect I had for the man when he turned into a political hack for Bill Clinton. Greatness tarnished. Too bad.
When Buffet was a younger man, with many years ahead of him, he played a patient game of value investing, because he could. Now he is an older man, with few years left, and he plays a short-term, zero-sum, rent-seeking game because he must. In both cases he was/is amorally (not altruistically, not immorally, but without regard for either) seeking to maximize his profits by the most efficient technique available to him. The former image of the man – the folksy and lovable value investor – was apparently just clever p.r. on his part.
Well actually he is still very active in looking for ventures
In yesterdays american thinker : there is an article on him and associate :regarding ugly crony capitalist relationsship with obama government
The keystone pipleine that is being delayed by looni greens
It seems mr buffet has a vested interset(against that of a desperate country presently) tahat he wwants HIS RAILROAD to transport the bitumen ! Its the pipeline that’s not his
That is is issue. At this time
The idiotic media is off course not doing their work here !again?!