"If you can find another illustration of a company whose stock that's gone down by 95% in one year and is still rated triple-A, I have yet to see it"
- Warren Buffet, speaking of about bond insurers Ambac and MBIA laughably retaining their AAA ratings by the corrupt and incompetent ratings agencies likely because of pressure by Hank Paulson and Ben Bernanke in order to prevent a financial collapse, May 2008
May 10, 2008
HousingPANIC Quote of the Day
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19 comments:
I liked when Ambac announced their latest round of losses and they were 5x larger than even THEY expected and with a straight face S&P said the losses were an acceptable level for them to retain AAA. But does it really matter? If hell froze over and Moody's and S&P did strip MBIA and Ambac of their AAA ratings the Fed would just change the rules so they can accept junk if they had to.
Eventually Truth Happens
I've been reading about Buffett for nigh on 30 years and he now seems to be getting too much media exposure for my liking. Warren is a snake in the grass and speaks with forked tongue...an investors dream. In these 30 years, I don't remember him ever saying..."Things are cheap and it's a good time to buy." I've only ever heard him say things like "I'm not a buyer, don't margin in this market, things are too pricy."
This particular story is just another case of Warren talking his book, his new bond insurance co.
Please don't take this wrong, as Buffett, Lynch, Templeton are my investment Gods.
I hope you folks got your butts out of bed on Friday and listened to Einhorn and Ackman on Squawk Box. That's entertainment!!!
Impeach and Jail Bushco/Chenyburton
It's a Great Time to Buy...
how bad is it going to get?
Nitro-Pak has stopped taking orders on freeze dried emergency food!
Mountain House freeze dried has been sold out for months!
Vita Digest has back orders on food stuffs!!
the S*&T is hitting the fan, what are you doing to save yourself?
A bank in Ark has been taken over this Saturday!
did you plant a garden this weekend?
Many an observer has commented about Buffet: “Don’t listen to what he says, but definitely watch what he does!"
Enron - oh wait - all that fraud happened on Clinton's watch - so it doesn't count...
Mountain House freeze dried has been sold out for months!
BS - I just bought 240 meals from them last month. There was no delay. Keep some bleach handy to clean your water. I bought a few magnesium fire starting kits. I have a Glock 40 and a Bersa .380 auto and a Marlin .22 rifle. If one of the monolines goes down, all hell will break loose with the economy. I figure the Fed or Treasury might end up nationalizing them.
what is so good about this guy? first quarter results , berkshire hathaway, are dismal.
http://tinyurl.com/3w2eyk
also this weasel said..."The worst of the crisis in Wall Street is over,''
on cnbc to beckie quick who follows him around like some kind of money hound....
http://tinyurl.com/6azrvc
the guy is obviously talking his book. so many think this guy is on the level. he walks around and acts like some old guy who lives next door. what a joke....and he is as big a liar as they all are. he is heavily into derivatives and he is losing big money because of it too but then he says that they are weapons of financial destruction. well warren, which is it? are they good or are they bad , or shall we do as you say and not as you do?
Dude? you sayin the ToothFairy ain't real?
Next you'll be sayin that the Prez,and Congress can't solve all of my problems like they always do,everyone knows.
BTW I made bucks off that teethfairy.A dime each.maybe a few thousand.Now that's real.
Mark,
Stuff that Clinton-Enron bullsh*t. Enron was George Bush's biggest donor, and for their benefit he wouldn't get involved in CA's electricity nightmare sveral years back.
Keep some bleach handy to clean your water.
Bleach is sooo yesterday:
www.steripen.com
Stuff that Clinton-Enron bullsh*t
The Enron shell games started in 1995 you moron. The WorldCom accounting scam started in 1998. How much kool-aid do you drink to stay in your drunken denial all the time?
Anonymous said...
what is so good about this guy? first quarter results , berkshire hathaway, are dismal.
20%/yr average over ~ 40 years is impressive...but the old fart did say derivatives were 'weapons of financial mass destruction'...and owned them all along! lol
I've only heard of one investor with higher long-terms returns...txchick from Ben's Boring Blog. She claims to make 5%/mo, which comes to 60%/yr, compounding notwithstanding.
I love this internet thingy.
How much kool-aid do you drink to stay in your drunken denial all the time?
Half of your daily dose, dipsh*t. Doesn't matter when it started, fool. Only matters that Bush knowingly aided and abetted those assh*les. You probably worked for them- wait, I don't think you are smart enough for that.
I've only heard of one investor with higher long-terms returns...txchick from Ben's Boring Blog. She claims to make 5%/mo, which comes to 60%/yr, compounding notwithstanding.
I love this internet thingy.
Yep, she's always proclaiming that she's a genius. One of the reasons I don't read Ben as often. Too many yesmen and geniuses there, like that dude who moved from Detroit to West Palm Beach...another self-proclaimed genius.
txchick from Ben's Boring Blog. She claims to make 5%/mo, which comes to 60%/yr, compounding notwithstanding.
I love this internet thingy.
BWAHAHAHAHAHA
I've chatted with "billionaires" on the MarketCrotch message board.
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