Has anyone seen Warren Buffets house ?

[Piston Broke]

-- a blog post represents only a point in time.

It also represents misleading and deceptive information falsely passed on as truth.
A right to free speech does not give a right to BS in my unhumble opinion.
Though I'd like to clarify that I've read that in other places on the web as well.

Moody's and all the other rating agencies were rating the bundled mortgages. The general idea back then was that there was little or no risk with these bundles because most people did not see bubbles bursting in the future.

Rating agencies told the world that a load of garbage was AAA rated.
They did'nt see any of it coming, which means their ratings are moreso junk that the junk they rated.
We can always go thru the ratings of Moodys if there's any doubts.

Maybe you could explain why he got the sweetheart deal of investing in the banks with gov guarantee when the deal was not offered to others.

 

[random]

Bill and Warren still get out and enjoy life though, its not all cash and cards

Crikey , that could've been quite dangerous on an old bloke !

Cheers

 

[random]

WB was interviewed by the "Barefoot Investor" Scott Pape.

It was shown in part on the 7.00 Project last week.

It looked quite plain and comfortable, and had a sec hand 4x4 parked out the front.

When asked why he didn't buy a new house and car, WB responded with "I don't need it".

Now, even I (being a bit frugal - Scottish heritage) would see my way clear to buy a couple of strategically placed holiday mansions around the world, and a few mill on the PPoR if I had $50bill.

Oh; and maybe a top-of-the-range beemer or merc etc.

He really does need a smack around the ears.

Yep , gotta agree with you on that one !

 

[jaycee]

its this clarity of thought that allows him to generate the kind of long term returns he achieves.
Its not just the cost of the current new car, its the opportunity loss forgone of investing that money with compounded returns.

Over the last 40 odd years he has managed to generate a long term return of around 20% a year (some years less, some more but its around this figure).


I understand the man, but i could never do this myself.

And what does that clarity help him do, make more money ? what for ? it would appear he doesn't want it ?

 

[Dazz]

what does that clarity help him do, make more money ? what for ? it would appear he doesn't want it ?

jaycee,

If you need that one fully explained to you, well I suspect you'll never get it.

 

[jaycee]

quite possible...