Most folks credit Warren Buffett as being a soothsayer of the markets, and most of us certainly listen to what he has to say. There is no question that he has been phenomenally successful, but..............
Article dated February 28, 2009:
fa81bb9f9cbf
"CHICAGO (MarketWatch) -- Following Berkshire Hathaway Inc.'s worst year on record, Chairman Warren Buffett told shareholders Saturday that the economy would remain in "shambles" during 2009 and beyond, offering no prediction about the future may hold for U.S. stocks.
In his annual letter to shareholders -- eagerly anticipated by investors for the insights it may hold into his thinking -- Buffett said neither he nor Charlie Munger, his long-time partner in running Omaha-based Berkshire BRK.B, -2.64% BRK.A, -1.66%, can predict winning and losing years in advance -- and no one else can either.
"We're certain, for example, that the economy will be in shambles throughout 2009 -- and, for that matter, probably well beyond -- but that conclusion does not tell us whether the stock market will rise or fall," Buffett wrote."
For the record, the stock market bottomed 9 days later, and an 11 year bull market that started March 10, 2009, and the economy has been on a roll ever since...until now.
Just sayin'!
I am making no predictions, nor am I offering any investment advice here.
Article dated February 28, 2009:
fa81bb9f9cbf
"CHICAGO (MarketWatch) -- Following Berkshire Hathaway Inc.'s worst year on record, Chairman Warren Buffett told shareholders Saturday that the economy would remain in "shambles" during 2009 and beyond, offering no prediction about the future may hold for U.S. stocks.
In his annual letter to shareholders -- eagerly anticipated by investors for the insights it may hold into his thinking -- Buffett said neither he nor Charlie Munger, his long-time partner in running Omaha-based Berkshire BRK.B, -2.64% BRK.A, -1.66%, can predict winning and losing years in advance -- and no one else can either.
"We're certain, for example, that the economy will be in shambles throughout 2009 -- and, for that matter, probably well beyond -- but that conclusion does not tell us whether the stock market will rise or fall," Buffett wrote."
For the record, the stock market bottomed 9 days later, and an 11 year bull market that started March 10, 2009, and the economy has been on a roll ever since...until now.
Just sayin'!
I am making no predictions, nor am I offering any investment advice here.
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