Is anyone else sick and tired of hearing Warren Buffett's magnificent musings?
Okay, so the guy is (very) rich and he has been (very) successful over a (very) long time, but I would say that his track record over the last year ain't so good. In fact, it "sucks eggs", to quote my seven year old. Which leads to the question . . . why should we care what Warren thinks now? This is one screwed up market and he doesn't have a clue what is going to happen next. How else can one explain his bone-headed moves over the last year. Warren has poured billions of his investors money into stocks that have continued to sink, big time.
And, don't give me the explanation (I was going to say "crap") about how if you have a long enough time horizon, these are great moves to make, and blah, blah, blah. Folks, as of the market close today, if your time horizon was 12 years, you have not made a penny in the broader stock market. Not one red cent.
Yes, someday stocks will go up again. But when that day is, nobody, not even the (formerly) great (but still very rich) Warren Buffett, knows. And, the fact is, you may be better off over the next 12 years buying Treasuries at 1.5% than following Warren any longer.
Sorry for two postings today, but I couldn't resist.
Woldy
Subscribe to:
Post Comments (Atom)
OK. Now you ahve finally joined the herd. Don't like being invested, been hurt...flee to Treasuries. Accept a zero return with the grateful thanks of your country. Inflation? who cares. Wealth creation..forget about it...just think wealth preservation. By the way, invest in treasuries and you can pay zero in taxes as well!
ReplyDeleteNo I do not agree. The challenge is to find a way forward. To invest in your business and to move the needle...not just by reducing expenses, but by increasing the top line as well.