Buffet on Bubbleheads

Doug Henwood dhenwood at panix.com
Mon Apr 29 07:23:21 PDT 2002


pms wrote:


>Charlie and I are disgusted by the situation, so common in the last few
>years, in which shareholders have suffered billions in losses while the
>CEOs, promoters, and other higher-ups who fathered these disasters have
>walked away with extraordinary wealth," he said.
>
>http://timesofindia.indiatimes.com/articleshow.asp?art_id=3296714
>
>could he really believe this was an isolated few years?

Fuck Buffett. He's one of the richest guys on earth, who once wouldn't lend his daughter $10,000 when she was living in a trailer park, who denounces the "greed" of others. His wealth is completely derived from speculation, yet he's deemed by many, starting with himself, to be above all that. He once described tobacco companies as the perfect investment because cigarettes cost a penny to make, sell for a dollar, they're addictive, and create great brand loyalty. He's also said the best investments are monopolies or near-monopolies, like the one toll bridge from point A to point B. Some sage.

Doug



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