buffet the bear

[Lawrence]

>>>>>>>>>>>
The septuagenarian head of Berkshire Hathaway has been telling
executives to prepare for a famine of almost biblical proportions
after the feast of the late 1990s, .....One private equity investor said
that Buffett believes the stock
market will suffer from a prolonged "hangover" after the party of the
last decade......Last year, Berkshire paid $8bn for companies which sell
paint,
bricks and carpets. Last month, the Omaha company announced the $590m
acquisition of Xtra, which leases truck trailers and cargo containers.
In Berkshire's annual letter to shareholders in March, the man dubbed
the Sage of Omaha said he prefers purchasing companies over stocks
because the long-term prospects for stocks are "far from exciting".
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Does he mean stocks will remain depressed for 8 years, or the economy? If
the economy, does he feel that productivity will stagnate? If not, is there
any reason the economy can't keep growing at productivity x labor growth?
Does he feel that the financial markets will be so damaged that there won't
be enough cash to keep the economy going, no matter how low the Fed cuts
rates? He says he fears a "hangover" from the last decade, does he mean a
hangover worse than the S&Ls? That only lasted 4 years, right?