Warren Buffet

[Darts]

lost $50 billion. Yes, $50 billion. In the famous last words of General George Armstrong Custer: "This is a total fuck-up!"

https://www.forbes.com/sites/sergei...etts-investments-took-a-hit-from-coronavirus/

 

[Jasmina]

It will recover, and probably already has. He never sells. As long as he did not sell, most stock prices have already gone back up, not entirely to where they were but getting close to that. There was no crash. As I predicted. We are consumers. No one has stopped spending.

 

[Ceiling Cat]

It how you play the game. I have suffered massive losses in TORC and Whitecap, these were highly recommended stock a year ago. They are down 70-80%. What do you do? What do you do? When these two stocks were down at their lowest, I bought 2 shares for each loosing share. That way when oil goes up ( and it will in 12-18 months ) The two depressed shares will offset the one loosing share and I do not even have to get back up to the original price to get out without being in the red. Or I can get out now at a 70-80% loss and deduct it against my gains. In the last month my six trades were all positive. It is all bottom line, you have to look at the big picture.

Just the B shares of Berkshire Hathaway are worth $446 billion, the whole company may be worth five times that. so $50 billion is a drop in the bucket for Berkshire. Probably he is snapping up 10 times that much in bargain shares.

There was no crash.

That was not a crash we experienced on March 4, that was the covid-19 downturn. The crash we were expecting has not come yet. When the news of how much this shut down has cost Canada, the cost of loss revenues from big and small business, and when the unemployment figure revealed will trigger the real crash.

 

[Insidious Von]

Just a mosquito bite for him.

He owns the electric grid across five States, having the power of thumbscrews over his native Nebraska. Nevada home-owners fed up with his high rates, started installing solar panels for some relief. So he lobbied the Governor of Nevada to slap a surtax on solar panels so that his revenue stream wouldn't take the hit. Nebraska has gotten significantly poorer under his thumb. Now that the State has approved the construction of the Keystone Pipeline, he's going to become even richer. It may be bad news for Nebraska, pipelines rupture and the State is a source of several major aquifers. How much will Buffett kick in if raw bitumen gets into Nebraska's groundwater? It could contaminate the water system all the way to New Orleans.

Buffett is capitalism at its most cut-throat, I won't even get into his conduct during the Financial Meltdown...he no JP Morgan.

This is only half the story.

 

[Insidious Von]

As if the USA doesn't have enough to worry about.

We are already in a deflationary Depression, Trump's gutting of the EPA is going to make the economic contagion worse. Anyone from Pittsburgh please comment. I keep getting reports that the Monongahela - Ohio River is starting to stink like a rotting corpse again.

 

[Robert Mugabe]

As if the USA doesn't have enough to worry about.

We are already in a deflationary Depression, Trump's gutting of the EPA is going to make the economic contagion worse. Anyone from Pittsburgh please comment. I keep getting reports that the Monongahela - Ohio River is starting to stink like a rotting corpse again.

Whole country stinks like a corpse.
As to the crash. My one stock tanked just after I bought high. Somewhat recovered, but I could probably recoup incrementally by day trading as it goes up and down 20 buck a share. Kind of don't have the stomach to do it right now.

 

[Darts]

I won't even get into his conduct during the Financial Meltdown...he no JP Morgan.

When Lehman Bros went belly up, Buffet did step in and saved Goldman "The Evil Empire" and by extension the U.S. financial system.

Buffet also stepped in and saved Home Trust after the OSC recklessly criticized the company for some poor paperwork on mortgage applications.

 

[Darts]

There is a report that he sold his stake in the 4 largest U.S. airlines.

 

[danmand]

Whole country stinks like a corpse.
As to the crash. My one stock tanked just after I bought high. Somewhat recovered, but I could probably recoup incrementally by day trading as it goes up and down 20 buck a share. Kind of don't have the stomach to do it right now.

Be careful. If you think Buffet is any good at investing, take note that he recently:

1. sold his stake in the 4 major USA airlines

2. Declared that he does not at this point see any attractive stocks to buy.

3. Has $137B in cash

 

[Ceiling Cat]

Be careful. If you think Buffet is any good at investing, take note that he recently:

1. sold his stake in the 4 major USA airlines
Would you want to sit in a disease incubator?

2. Declared that he does not at this point see any attractive stocks to buy.
The worse is yet to come, why would he buy now.

3. Has $137B in cash
He is keeping his powder dry.

If I was Warren I would not tell anyone how I was going to invest either.

 

[Insidious Von]

When Lehman Bros went belly up, Buffet did step in and saved Goldman "The Evil Empire" and by extension the U.S. financial system.

Buffet also stepped in and saved Home Trust after the OSC recklessly criticized the company for some poor paperwork on mortgage applications.

Buffett got very favorable deals with both Goldmann Sachs and Home Trust. Didn't he do a deal on the later in 2017?

https://business.financialpost.com/news/fp-street/the-real-reason-warren-buffett-is-rescuing-home-capital

 

[danmand]

Buffett got very favorable deals with both Goldmann Sachs and Home Trust. Didn't he do a deal on the later in 2017?

https://business.financialpost.com/news/fp-street/the-real-reason-warren-buffett-is-rescuing-home-capital

Not to mention that the Government bailed out AIG.

 

[malata]

lost $50 billion. Yes, $50 billion. In the famous last words of General George Armstrong Custer: "This is a total fuck-up!"

me likes buffet's famous words better: “It's only when the tide goes out that you discover who's been swimming naked.”

dat hathaway is sexy

 

[Ceiling Cat]

lost $50 billion. Yes, $50 billion.

He probably has not lost a nickel. You only lose if you panic sell.

- If your $1 share went down to .20 cents, you still own the future potential of that stock.

- Buy 2 more share for each loosing share, so now you have 3 shares. ( $1 + .20 + .20 = $1.40 )

- If the shares go up to $0.50 you would have broken even with a $0.10 profit.

 

[Indiana]

But his smartest recovery move is dumping the airline stock.

 

[Insidious Von]

Burkshire has a controlling stake in Restaurant Brands which means he owns Tim's along with Wendy's and and Dairy Queen.

For an almost 90 year old man, he still loves burgers...with the big Kosher pickle.

 

[Ceiling Cat]

But his smartest recovery move is dumping the airline stock.

Everyone has had a 6 week vacation this year already, the airlines may not recover for 24-36 months. If things get better he could always get back into the airline stocks.

 

[Indiana]

Everyone has had a 6 week vacation this year already, the airlines may not recover for 24-36 months. If things get better he could always get back into the airline stocks.

He’s 90 lol.

 

[Ceiling Cat]

He’s 90 lol.

He probably enjoys what he does, these must be very interesting times for him.