Buffett — The Economy and the U.S. Housing Market’s Future

“There hasn’t been a big pickup in the housing market. That’s the best news you can have.

“If you have too many houses in relation to households you want to stop creating houses for awhile. If you have an excess inventory of purple dresses at the end of the fashion season, you mark them down. Read more »

5.04.2010

Independent Expenditure Committee Attacks Tom Campbell

(Editor’s Note: This posting has been REVISED. The initial headline said the mailer below was sent by the Carly Fiorina for U.S. Senate campaign. IT WASN’T. It was, in fact, sent by the American Future Fund whose website says that it is a 501(c)(4) “formed to provide Americans with a conservative and free market viewpoint to have a mechanism to communicate and advocate on the issues that most interest and concern them.” Read more »

5.03.2010

Warren Buffett Discusses Greece and Its Credit Problems

“If you’re some South American country, you can’t print dollars. Greece — they are a sovereign country in terms of their budget but they can’t print their own currency. They’ve got the Euro. You may be seeing sort of a test case play out here of a country that’s not using its own currency — in effect it’s using a common currency — yet it’s sovereign in making its own promises to its citizens. Read more »

5.02.2010

Warren Buffett and Charles Munger on California’s Prospects

Asked at a May 2, 2010 press conference the day following the Berkshire Hathaway shareholders meeting in Omaha Nebraska, Warren Buffett and his business partner, California resident Charles Munger, were asked a question about the Golden State.

The thrust of the question centered on however California goes, so goes the nation. Read more »

5.01.2010

Ever Quick with a Quip…

“That’s one of the best questions I’ve ever heard.”

— Warren Buffett, Berkshire Hathaway Shareholders Meeting , May 1, 2010 responding to a German shareholder thanking him for, through acquiring Burlington Northern, “taking the future of American railroads into your gifted hands.”

*****

“You have to call us Great Uncle.”

To a girl from Los Angeles who called Buffett and his business partner, Charlie Munger, ‘Uncle’ because she said that is the custom for children to refer to their elders in India, where her parents come from. Read more »

5.01.2010

Warren Buffett Defends Goldman Sachs at Annual Meeting

At the May 1 Berkshire Hathaway shareholders meeting in Omaha, Nebraska, not unsurprisingly, the first question of Berkshire’s CEO, Warren Buffett, focused on the Securities and Exchange Commission fraud lawsuit against investment banking giant Goldman Sachs of which Berkshire owns $5 billion in preferred stock.

Among Buffett’s comments:

“Our experience with Goldman goes back 44 years. Read more »