Words of financial wisdom from the "Oracle of Omaha" - Jets Insider.com Forums

jetstream23 · 10-10-2008, 12:47 PM

[IMG]http://img413.imageshack.us/img413/9424/warrenmy5.gif[/IMG]

[QUOTE][B]Warren Buffett's Reassuring Words On the Future[/B]
Posted By:Alex Crippen
Topics:Economy (U.S.) | Stock Market | Warren Buffett
Companies:Berkshire Hathaway Inc.

As the stock market's wild moves downward have average Americans worried about their financial futures and looking for leadership, it's important to keep Warren Buffett's reassuring words about the long-run in mind.

Here's what he said live on CNBC just a few weeks ago:

"You know, five years from now, ten years from now, we'll look back on this period and we'll see that you could have made some extraordinary (stock market) buys. That doesn't mean it won't get more extraordinary a week or a month from now. I have no idea what the stock market is going to do next month or six months from now. I do know that the American economy, over a period of time, will do very well, and people who own a piece of it will do well."

Just don't borrow money to buy your piece.
[/QUOTE]

And my favorites because, as painful and uncertain as things may sometimes seem, most fortunes are made by people who have the guts to buy the right things when everyone else is selling.

[QUOTE]
1. "Cash combined with courage in a crisis is priceless"

2. "Dont invest in things you don't understand"

3. "Don't try to catch a falling knife until you have a handle on the risk"[/QUOTE]

[url]http://www.cnbc.com/id/27116449[/url]

[url]http://www.cnbc.com/id/26963156/[/url]

JetsCrazey · 10-10-2008, 12:50 PM

"The best time to buy is when blood is running in the streets" -John D. Rockefeller

In the case of gold, that time is now
For other investments, that will come in due time

JetsFan2012 · 10-10-2008, 12:50 PM

Obama's Secretary of the Treasury, perhaps?

Sourceworx · 10-10-2008, 01:00 PM

[QUOTE=pauliec;2797977]Obama's Secretary of the Treasury, perhaps?[/QUOTE]

I'm not an Obama supporter, but if he made that move I would applaud him.

long island leprechaun · 10-10-2008, 01:01 PM

Lucky Ron Paul wasn't the president. We'd all be living in tents eating pork and beans while the financial markets plummeted to zero... the good old free market, yes, let it take its course, no intervention by those nasty federal reserve types or, worse, those marxist Europeans. No regulation for ol' Ron. Just let those greedy wall street schemers rape the economy and leave it bloody and walletless in a dark alley... it's all good. :rolleyes:

Thank goodness for the perspective of Buffett. He's right, of course, if you are not reliant on immediate income from your investments. As they say, don't play poker unless it's with money you can afford to lose.

nuu faaola · 10-10-2008, 01:04 PM

[QUOTE=pauliec;2797977]Obama's Secretary of the Treasury, perhaps?[/QUOTE]

I am sure Obama would offer, but running Berkshire Hathaway is a full-time job. Regardless, you have to be pleased that this is a guy Obama gets economic advice from.

PlumberKhan · 10-10-2008, 01:28 PM

[QUOTE=JetsCrazey;2797976]In the case of gold, that time is now
For other investments, that will come in due time[/QUOTE]

Are you a pirate or something?

ARGGG MATEY...Invest in ye gold or ye portfolio be in the realm of Davy Jones' locker.

Should I start digging up my backyard? Head to the Yukon? Pan for gold in the Hudson?

Roger Vick · 10-10-2008, 02:02 PM

One of my favorite Buffetisms: "Be greedy when others are fearful."

AceBoy · 10-10-2008, 02:08 PM

[QUOTE=PlumberKhan;2798037]Are you a pirate or something?

ARGGG MATEY...Invest in ye gold or ye portfolio be in the realm of Davy Jones' locker.

Should I start digging up my backyard? Head to the Yukon? Pan for gold in the Hudson?[/QUOTE]

LOL...nice

jetstream23 · 10-10-2008, 02:23 PM

[QUOTE=sourceworx;2797992]I'm not an Obama supporter, but if he made that move I would applaud him.[/QUOTE]

+ 1

The greatest value investor of all-time in my opinion. And, that is what a country so seriously in debt could use. It would be a remarkable capper to a historic career if Warren was asked and chose to serve his country in that capacity.

Lawyers, Guns and Money · 10-10-2008, 02:30 PM

[QUOTE=long island leprechaun;2797993]Lucky Ron Paul wasn't the president. We'd all be living in tents eating pork and beans while the financial markets plummeted to zero... the good old free market, yes, let it take its course, no intervention by those nasty federal reserve types or, worse, those marxist Europeans. No regulation for ol' Ron. Just let those greedy wall street schemers rape the economy and leave it bloody and walletless in a dark alley... it's all good. :rolleyes:

Thank goodness for the perspective of Buffett. He's right, of course, if you are not reliant on immediate income from your investments. As they say, don't play poker unless it's with money you can afford to lose.[/QUOTE]

what good has intervention done? How could doing nothing been worse? obviously, we can't prove something that hasnt happened. I dont understand blind faith that "doing something" is right

long island leprechaun · 10-10-2008, 03:56 PM

[QUOTE=Lawyers, Guns and Money;2798131]what good has intervention done? How could doing nothing been worse? obviously, we can't prove something that hasnt happened. I dont understand blind faith that "doing something" is right[/QUOTE]

Take away the bailout, take away bank rescues in Europe, and now buying up paper money, take away easing of interest rates by the fed, and you have unmitigated total complete catastrophe and a market that would be down at least double where it has gone already. Paul is a complete and total economic and constitutional moron. The blind faith is, regrettably, in those who really swallow the Paul moonshine. But Paul's wish for school prayer would have been granted: because we'd all be praying for somebody to rescue us from living hell....

nuu faaola · 10-10-2008, 04:02 PM

[QUOTE=jetstream23;2798123]+ 1

The greatest value investor of all-time in my opinion. And, that is what a country so seriously in debt could use. It would be a remarkable capper to a historic career if Warren was asked and chose to serve his country in that capacity.[/QUOTE]

Yes, it would.

But, in some respects, he's doing a greater service by making high-profile bold investments in companies like Goldman Sachs and GE in the middle of an economic crisis. I'm sure he's doing it to make money, too, but the message he sends by sticking his neck out is important.

No vote of confidence in the economy carries more weight than his.

jetstream23 · 10-10-2008, 04:08 PM

[QUOTE=nuu faaola;2798307]Yes, it would.

But, in some respects, he's doing a greater service by making high-profile bold investments in companies like Goldman Sachs and GE in the middle of an economic crisis. I'm sure he's doing it to make money, too, but the message he sends by sticking his neck out is important.

No vote of confidence in the economy carries more weight than his.[/QUOTE]

Great post.

Action speaks louder than words and Warren has been putting money where his mouth is.

Roger Vick · 10-10-2008, 04:17 PM

[QUOTE=nuu faaola;2798307]Yes, it would.

But, in some respects, he's doing a greater service by making high-profile bold investments in companies like Goldman Sachs and GE in the middle of an economic crisis. I'm sure he's doing it to make money, too, but the message he sends by sticking his neck out is important.

No vote of confidence in the economy carries more weight than his.[/QUOTE]

I've sometimes wondered what we would do if Warren Buffett lost his marbles. Would we all just blindly follow him right over the edge?

I mean, he is getting kind of old.

nuu faaola · 10-10-2008, 04:23 PM

[QUOTE=Roger Vick;2798355]I've sometimes wondered what we would do if Warren Buffett lost his marbles. Would we all just blindly follow him right over the edge?

I mean, he is getting kind of old.[/QUOTE]

Still making money hand over fist. He bought a huge stake in Anheuser-Busch at $45 a couple years back when it was struggling, and the company just got sold for $70. Made something like $600 million on that one this year.

I'd say he hasn't completely lost it.

Roger Vick · 10-10-2008, 04:27 PM

[QUOTE=nuu faaola;2798375]Still making money hand over fist. He bought a huge stake in Anheuser-Busch at $45 a couple years back when it was struggling, and the company just got sold for $70. Made something like $600 million on that one this year.

I'd say he hasn't completely lost it.[/QUOTE]

I think you missed one word in my post. I said "if".

nuu faaola · 10-10-2008, 04:28 PM

[QUOTE=Roger Vick;2798386]I think you missed one word in my post. I said "if".[/QUOTE]

Gotcha.

Yeah, it'll be sad when that happens. He's a great American.

10-10-2008, 12:47 PM	#1
jetstream23 recovering from turf toe Jets Insider VIP Join Date: Dec 2005 Location: Phoenix, AZ (New Jets Stadium Section 246) Posts: 31,568	Words of financial wisdom from the "Oracle of Omaha" [IMG]http://img413.imageshack.us/img413/9424/warrenmy5.gif[/IMG] [QUOTE][B]Warren Buffett's Reassuring Words On the Future[/B] Posted By:Alex Crippen Topics:Economy (U.S.) \| Stock Market \| Warren Buffett Companies:Berkshire Hathaway Inc. As the stock market's wild moves downward have average Americans worried about their financial futures and looking for leadership, it's important to keep Warren Buffett's reassuring words about the long-run in mind. Here's what he said live on CNBC just a few weeks ago: "You know, five years from now, ten years from now, we'll look back on this period and we'll see that you could have made some extraordinary (stock market) buys. That doesn't mean it won't get more extraordinary a week or a month from now. I have no idea what the stock market is going to do next month or six months from now. I do know that the American economy, over a period of time, will do very well, and people who own a piece of it will do well." Just don't borrow money to buy your piece. [/QUOTE] And my favorites because, as painful and uncertain as things may sometimes seem, most fortunes are made by people who have the guts to buy the right things when everyone else is selling. [QUOTE] 1. "Cash combined with courage in a crisis is priceless" 2. "Dont invest in things you don't understand" 3. "Don't try to catch a falling knife until you have a handle on the risk"[/QUOTE] [url]http://www.cnbc.com/id/27116449[/url] [url]http://www.cnbc.com/id/26963156/[/url]

10-10-2008, 12:50 PM	#2
JetsCrazey All League Join Date: Aug 2005 Posts: 2,664	"The best time to buy is when blood is running in the streets" -John D. Rockefeller In the case of gold, that time is now For other investments, that will come in due time

10-10-2008, 12:50 PM	#3
JetsFan2012 Waterboy Join Date: Oct 2005 Posts: 0	Obama's Secretary of the Treasury, perhaps?

10-10-2008, 01:00 PM	#4
Sourceworx Hall Of Fame Join Date: Mar 2005 Location: Long Island Posts: 13,411	[QUOTE=pauliec;2797977]Obama's Secretary of the Treasury, perhaps?[/QUOTE] I'm not an Obama supporter, but if he made that move I would applaud him.

10-10-2008, 01:01 PM	#5
long island leprechaun Don't mess with Angel Eyes. All Pro Join Date: Jan 2006 Location: greenwich village, NYC Posts: 7,216	Lucky Ron Paul wasn't the president. We'd all be living in tents eating pork and beans while the financial markets plummeted to zero... the good old free market, yes, let it take its course, no intervention by those nasty federal reserve types or, worse, those marxist Europeans. No regulation for ol' Ron. Just let those greedy wall street schemers rape the economy and leave it bloody and walletless in a dark alley... it's all good. :rolleyes: Thank goodness for the perspective of Buffett. He's right, of course, if you are not reliant on immediate income from your investments. As they say, don't play poker unless it's with money you can afford to lose.

10-10-2008, 01:04 PM	#6
nuu faaola All Pro Join Date: Apr 2003 Posts: 6,253	[QUOTE=pauliec;2797977]Obama's Secretary of the Treasury, perhaps?[/QUOTE] I am sure Obama would offer, but running Berkshire Hathaway is a full-time job. Regardless, you have to be pleased that this is a guy Obama gets economic advice from.

10-10-2008, 01:28 PM	#7
PlumberKhan BRACE YOURSELVES FOR 12... Banned Join Date: Feb 2006 Location: Van down by the river Posts: 21,013	[QUOTE=JetsCrazey;2797976]In the case of gold, that time is now For other investments, that will come in due time[/QUOTE] Are you a pirate or something? ARGGG MATEY...Invest in ye gold or ye portfolio be in the realm of Davy Jones' locker. Should I start digging up my backyard? Head to the Yukon? Pan for gold in the Hudson?

10-10-2008, 02:02 PM	#8
Roger Vick Banned Join Date: Sep 2005 Posts: 9,533	One of my favorite Buffetisms: "Be greedy when others are fearful."

10-10-2008, 02:08 PM	#9
AceBoy Veteran Join Date: Aug 2003 Posts: 2,181	[QUOTE=PlumberKhan;2798037]Are you a pirate or something? ARGGG MATEY...Invest in ye gold or ye portfolio be in the realm of Davy Jones' locker. Should I start digging up my backyard? Head to the Yukon? Pan for gold in the Hudson?[/QUOTE] LOL...nice

10-10-2008, 02:23 PM	#10
jetstream23 recovering from turf toe Jets Insider VIP Join Date: Dec 2005 Location: Phoenix, AZ (New Jets Stadium Section 246) Posts: 31,568	[QUOTE=sourceworx;2797992]I'm not an Obama supporter, but if he made that move I would applaud him.[/QUOTE] + 1 The greatest value investor of all-time in my opinion. And, that is what a country so seriously in debt could use. It would be a remarkable capper to a historic career if Warren was asked and chose to serve his country in that capacity.

10-10-2008, 02:30 PM	#11
Lawyers, Guns and Money Veteran Join Date: Apr 2003 Location: Greenwich Village, NY Posts: 2,229	[QUOTE=long island leprechaun;2797993]Lucky Ron Paul wasn't the president. We'd all be living in tents eating pork and beans while the financial markets plummeted to zero... the good old free market, yes, let it take its course, no intervention by those nasty federal reserve types or, worse, those marxist Europeans. No regulation for ol' Ron. Just let those greedy wall street schemers rape the economy and leave it bloody and walletless in a dark alley... it's all good. :rolleyes: Thank goodness for the perspective of Buffett. He's right, of course, if you are not reliant on immediate income from your investments. As they say, don't play poker unless it's with money you can afford to lose.[/QUOTE] what good has intervention done? How could doing nothing been worse? obviously, we can't prove something that hasnt happened. I dont understand blind faith that "doing something" is right

10-10-2008, 03:56 PM	#12
long island leprechaun Don't mess with Angel Eyes. All Pro Join Date: Jan 2006 Location: greenwich village, NYC Posts: 7,216	[QUOTE=Lawyers, Guns and Money;2798131]what good has intervention done? How could doing nothing been worse? obviously, we can't prove something that hasnt happened. I dont understand blind faith that "doing something" is right[/QUOTE] Take away the bailout, take away bank rescues in Europe, and now buying up paper money, take away easing of interest rates by the fed, and you have unmitigated total complete catastrophe and a market that would be down at least double where it has gone already. Paul is a complete and total economic and constitutional moron. The blind faith is, regrettably, in those who really swallow the Paul moonshine. But Paul's wish for school prayer would have been granted: because we'd all be praying for somebody to rescue us from living hell....

10-10-2008, 04:02 PM	#13
nuu faaola All Pro Join Date: Apr 2003 Posts: 6,253	[QUOTE=jetstream23;2798123]+ 1 The greatest value investor of all-time in my opinion. And, that is what a country so seriously in debt could use. It would be a remarkable capper to a historic career if Warren was asked and chose to serve his country in that capacity.[/QUOTE] Yes, it would. But, in some respects, he's doing a greater service by making high-profile bold investments in companies like Goldman Sachs and GE in the middle of an economic crisis. I'm sure he's doing it to make money, too, but the message he sends by sticking his neck out is important. No vote of confidence in the economy carries more weight than his.

10-10-2008, 04:08 PM	#14
jetstream23 recovering from turf toe Jets Insider VIP Join Date: Dec 2005 Location: Phoenix, AZ (New Jets Stadium Section 246) Posts: 31,568	[QUOTE=nuu faaola;2798307]Yes, it would. But, in some respects, he's doing a greater service by making high-profile bold investments in companies like Goldman Sachs and GE in the middle of an economic crisis. I'm sure he's doing it to make money, too, but the message he sends by sticking his neck out is important. No vote of confidence in the economy carries more weight than his.[/QUOTE] Great post. Action speaks louder than words and Warren has been putting money where his mouth is.

10-10-2008, 04:17 PM	#15
Roger Vick Banned Join Date: Sep 2005 Posts: 9,533	[QUOTE=nuu faaola;2798307]Yes, it would. But, in some respects, he's doing a greater service by making high-profile bold investments in companies like Goldman Sachs and GE in the middle of an economic crisis. I'm sure he's doing it to make money, too, but the message he sends by sticking his neck out is important. No vote of confidence in the economy carries more weight than his.[/QUOTE] I've sometimes wondered what we would do if Warren Buffett lost his marbles. Would we all just blindly follow him right over the edge? I mean, he is getting kind of old.

10-10-2008, 04:23 PM	#16
nuu faaola All Pro Join Date: Apr 2003 Posts: 6,253	[QUOTE=Roger Vick;2798355]I've sometimes wondered what we would do if Warren Buffett lost his marbles. Would we all just blindly follow him right over the edge? I mean, he is getting kind of old.[/QUOTE] Still making money hand over fist. He bought a huge stake in Anheuser-Busch at $45 a couple years back when it was struggling, and the company just got sold for $70. Made something like $600 million on that one this year. I'd say he hasn't completely lost it.

10-10-2008, 04:27 PM	#17
Roger Vick Banned Join Date: Sep 2005 Posts: 9,533	[QUOTE=nuu faaola;2798375]Still making money hand over fist. He bought a huge stake in Anheuser-Busch at $45 a couple years back when it was struggling, and the company just got sold for $70. Made something like $600 million on that one this year. I'd say he hasn't completely lost it.[/QUOTE] I think you missed one word in my post. I said "if".

10-10-2008, 04:28 PM	#18
nuu faaola All Pro Join Date: Apr 2003 Posts: 6,253	[QUOTE=Roger Vick;2798386]I think you missed one word in my post. I said "if".[/QUOTE] Gotcha. Yeah, it'll be sad when that happens. He's a great American.