http://online.wsj.com/article/SB122548632193589047.html
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This is what I have been saying to people that have responded to me with the phrase, “well Buffett is buying again.” He is getting deals we are not getting, a 10% dividend on GE and Goldman Sachs is hardly something the rest of us can get. That 10% hedges most of the activity of the stock he is holding whether it goes up or down.
It looks as if the market is starting to level out, but I still don’t think this is the end. My prediction is to see how the market reacts to the post holiday earnings reports and then judge the state of the economy.
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1 comment:
I agree fully with your statements about the Warren Buffet philosophy. He's able to get these sweetheart deals by leveraging something he has that most of us don't: tons of cash.
Then again, he wouldn't be investing anything in Goldman or GE, etc if he didn't believe in the long term outlook of either company. Just remember, if things go belly up, he's taken care of due to the preferred status of his shares.
I also agree with your sentiment on waiting out the economy. Consumer spending over the holiday season is a strong economic indicator, but if you want to play it safe right now, you could look at the likes of Wal-mart, which capitalize on a marketing system selling "cheap" goods... A good hedge against a falling economy, and I suspect they'll do well over the Christmas season as well.
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