Monday, October 27, 2008

Bozoids betting against Buffett while Laffer laughs about "solutions" to the economy

Well, today we have Arthur Laffer telling us that the present administration is, in a nutshell, Herbert Hoover all over again. And is Obama FDR, and, if he is, is that necessarily a good thing?

You'd think the one constant in this would be the Oracle of Omaha, Warren Buffett. He's investing in certain equities as he thinks they are sound. And the Heard on the Street column at the WSJ is taking him to task a little for not timing things right.

And others are jumping on that bandwagon.

Hey, Buffett's not perfect. He'll be the first to tell you. But he has a darn good track record. And if you read up on him and Charlie Munger, you'll realize that it is all about the long term. If you believe in the BRK model, you are looking at gains over years and decades, not weeks and months. I'm no investment maven by any means, but I've always thought that it is OK to buy above the bottom and sell below the top as long as the investment is sounds. No one times the market perfectly. If it were only so easy.

So, go ahead, bet against Warren. He's probably smiling at these stories as I type.

(Full disclosure department - we own BRK stock.)

1 comments:

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