http://www.financialpost.com/story.html?id=356572
Buffett king for a reason
Berkshire share price rose 29% in 2007
Jacqueline Thorpe, Financial Post
Published: Thursday, March 06, 2008
"In a year when the U.S. housing market was imploding, credit markets seizing up and global stock markets convulsing, Warren Buffett saw the share price of his flagship company Berkshire Hathaway Inc. rise a cool 29%.
Compared with a 4% return on the S&P 500, this was an impressive achievement, even for an investor of Mr. Buffett's legendary status and the key reason he catapulted to the top of Forbes rich list in 2007.
Forbes yesterday named Mr. Buffet, 77, the world's richest man with a net worth of US$62.0-billion, up US$10-billion from 2006, when he was number two..."
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He didn't get caught holding any toxic subprime derivatives:
""BBC - BUFFET: DERIVATIVES ARE FINANCIAL WEAPONS OF MASS DESTRUCTION
Tuesday, 4 March, 2003, 13:32 GMT htttp://news.bbc.co.uk/2/hi/business/2817995.stm
"The rapidly growing trade in derivatives poses a "mega-catastrophic risk" for the economy and most shares are still "too expensive", legendary investor Warren Buffett has warned......But Mr Buffett argues that such highly complex financial instruments are time bombs and "financial weapons of mass destruction" that could harm not only their buyers and sellers, but the whole economic system. ""
Also the US tax system helped him out:
Buffett on the 'Death Tax' and the widening gap between the rich and the poor in the US.
http://www.youtube.com/watch?v=QLD0p1QpcI8
"Apparently the government in its wisdom thinks that some guy like me is like the condor or the spotted owl or something to be protected. We really need to figure out some way not to fill the golden goose but actually to have abundance grow.''
------------Warren Buffett
Buffett king for a reason
Berkshire share price rose 29% in 2007
Jacqueline Thorpe, Financial Post
Published: Thursday, March 06, 2008
"In a year when the U.S. housing market was imploding, credit markets seizing up and global stock markets convulsing, Warren Buffett saw the share price of his flagship company Berkshire Hathaway Inc. rise a cool 29%.
Compared with a 4% return on the S&P 500, this was an impressive achievement, even for an investor of Mr. Buffett's legendary status and the key reason he catapulted to the top of Forbes rich list in 2007.
Forbes yesterday named Mr. Buffet, 77, the world's richest man with a net worth of US$62.0-billion, up US$10-billion from 2006, when he was number two..."
---------------------------------------------------------------
He didn't get caught holding any toxic subprime derivatives:
""BBC - BUFFET: DERIVATIVES ARE FINANCIAL WEAPONS OF MASS DESTRUCTION
Tuesday, 4 March, 2003, 13:32 GMT htttp://news.bbc.co.uk/2/hi/business/2817995.stm
"The rapidly growing trade in derivatives poses a "mega-catastrophic risk" for the economy and most shares are still "too expensive", legendary investor Warren Buffett has warned......But Mr Buffett argues that such highly complex financial instruments are time bombs and "financial weapons of mass destruction" that could harm not only their buyers and sellers, but the whole economic system. ""
Also the US tax system helped him out:
Buffett on the 'Death Tax' and the widening gap between the rich and the poor in the US.
http://www.youtube.com/watch?v=QLD0p1QpcI8
"Apparently the government in its wisdom thinks that some guy like me is like the condor or the spotted owl or something to be protected. We really need to figure out some way not to fill the golden goose but actually to have abundance grow.''
------------Warren Buffett