Yes, Warren lost $13 billion last year but he is still the richest man or woman in the world. The threshold for rich has been lowered. You are now considered rich if you have two nickels to rub together.
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Warren Buffet
- Thread starter Rockslinger
- Start date
onthebottom said:Does anyone have a copy of this year's letter, sounds like it's a classic....
OTB
http://www.gurufocus.com/forum/read.php?1,50130
http://politickler.com/2008/11/27/billionaires-lost-nearly-200-billion/
here's a list of businessmen who lost billions last yr
here's a list of businessmen who lost billions last yr
Too much Warren material to read it all but he did say that the U.S. has overcome serious obstacles in the past and will do so again. So, there is hope.
onthebottom said:Does anyone have a copy of this year's letter, sounds like it's a classic....
OTB
There was a link yesterday either through Reuters or CNBC. I'll try and find it later and will post it.
LKD said:here's a list of businessmen who lost billions last yr
OMG, these are BIG bucks. I wonder if Forbes still does the "Forbes 400" and how much wealth it would take to make "the cut" in 2009? Has to be a lot lower than 2008 or 2007.
Rockslinger said:OMG, these are BIG bucks. I wonder if Forbes still does the "Forbes 400" and how much wealth it would take to make "the cut" in 2009? Has to be a lot lower than 2008 or 2007.
haha yeah i don't remember if it was another article, but I read about an indian businessman who became one of the top 10 or so richest man, but lost all his wealth in one year with zero net worth
LKD said:but lost all his wealth in one year with zero net worth
During the 1991 recession, Donald Trump's net worth was NEGATIVE $1billion. He went to Citibank on bended knees and they put him on a monthly allowance.
Inspiring paragraph:
Without fail, however, we’ve overcome them. In the face of those obstacles – and many others – the real standard of living for Americans improved nearly seven-fold during the 1900s, while the Dow Jones Industrials rose from 66 to 11,497. Compare the record of this period with the dozens of centuries during which humans secured only tiny gains, if any, in how they lived. Though the path has not been smooth, our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so. America’s best days lie ahead.
OTB
Without fail, however, we’ve overcome them. In the face of those obstacles – and many others – the real standard of living for Americans improved nearly seven-fold during the 1900s, while the Dow Jones Industrials rose from 66 to 11,497. Compare the record of this period with the dozens of centuries during which humans secured only tiny gains, if any, in how they lived. Though the path has not been smooth, our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so. America’s best days lie ahead.
OTB
onthebottom said:Without fail, however, we’ve overcome them. In the face of those obstacles – and many others – the real standard of living for Americans improved nearly seven-fold during the 1900s, while the Dow Jones Industrials rose from 66 to 11,497.
Yes, when they read those words to me, I decided to get off the window ledge and came back into the room. I also thought how much my dog and horse would miss me and how heartbroken they would be.
