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Oracle of Omaha says economy has fallen off cliff

Zebo

Zebo

Elite Member
Still think this is a joke? Hit bottom? Yeah right! Long on stocks? Good luck w/ that! More and more economic geniuses coming around to Zebonomics every day, this time Buffett the biggest baddest dude in business for 40 years says basically we toast.

Does anyone realize that when you are insolvent, you must restructure and deleverge to reduce debt? Does anyone realize this has a snowball effect of job loses/business closings/ etc putting more in debt? As bankruptcies climb I promise the stock market won't go lower than ZERO. With this being the case why would anyone buy stocks now? Are you crazy?

The only Bottom is in my glass - time for a refill.


http://business.timesonline.co...nce/article5875220.ece

Warren Buffett said yesterday that the US economy had ?fallen off a cliff?, describing the current crisis as ?an economic Pearl Harbor? as concern spread about the US Administration?s fitful attempts to halt the collapse of the American banking sector........ READ MORE AT SITE
Click to expand...


 
Originally posted by: Zebo
Long on stocks? Good luck w/ that! More and more economic geniuses coming around to Zebonomics every day, this time Buffett the biggest baddest dude in business for 40 years says basically we toast.
Click to expand...

i watched the interview and Warren Buffet said that he is long on stocks. Zebo self pwnage 4TW.
 
If you're in it for the long haul, now is a fine time to get in. Later will probably be better, however.
 
Originally posted by: alien42
Originally posted by: Zebo
Long on stocks? Good luck w/ that! More and more economic geniuses coming around to Zebonomics every day, this time Buffett the biggest baddest dude in business for 40 years says basically we toast.
Click to expand...

i watched the interview and Warren Buffet said that he is long on stocks. Zebo self pwnage 4TW.
Click to expand...

Yeah, sensationalist bullshit FTL
Go to CNBC and actually watch the interview, he wasn't anywhere near the doom and gloom you make him out to be.

linkie
"Warren Buffett's bullish comments on banks during this morning' Squawk Box on CNBC helped boost the financial stocks in Berkshire Hathaway's portfolio today."

I think Soros, Buffet and Shiller are pretty much the only guys worth listening to, as they have demonstrated repeated success.
 
Originally posted by: alien42
Originally posted by: Zebo
Long on stocks? Good luck w/ that! More and more economic geniuses coming around to Zebonomics every day, this time Buffett the biggest baddest dude in business for 40 years says basically we toast.
Click to expand...

i watched the interview and Warren Buffet said that he is long on stocks. Zebo self pwnage 4TW.
Click to expand...

rofl, yup. Zebo owning himself with his own linkage. Classic.
 
Originally posted by: halik
Originally posted by: alien42
Originally posted by: Zebo
Long on stocks? Good luck w/ that! More and more economic geniuses coming around to Zebonomics every day, this time Buffett the biggest baddest dude in business for 40 years says basically we toast.
Click to expand...

i watched the interview and Warren Buffet said that he is long on stocks. Zebo self pwnage 4TW.
Click to expand...

Yeah, sensationalist bullshit FTL
Go to CNBC and actually watch the interview, he wasn't anywhere near the doom and gloom you make him out to be.

linkie
"Warren Buffett's bullish comments on banks during this morning' Squawk Box on CNBC helped boost the financial stocks in Berkshire Hathaway's portfolio today."

I think Soros, Buffet and Shiller are pretty much the only guys worth listening to, as they have demonstrated repeated success.
Click to expand...



Haha ha. Buffett owns you. You don't understand Buffetts positions and preferred shares demand he talk the banks up so he's not totally FUCKED as he's Berkshire runs into MAJOR problems losing half his value in 6 months. In the meantime, his more candid interview I posted he sees big problems.
 
Originally posted by: Zebo
Originally posted by: halik
Originally posted by: alien42
Originally posted by: Zebo
Long on stocks? Good luck w/ that! More and more economic geniuses coming around to Zebonomics every day, this time Buffett the biggest baddest dude in business for 40 years says basically we toast.
Click to expand...

i watched the interview and Warren Buffet said that he is long on stocks. Zebo self pwnage 4TW.
Click to expand...

Yeah, sensationalist bullshit FTL
Go to CNBC and actually watch the interview, he wasn't anywhere near the doom and gloom you make him out to be.

linkie
"Warren Buffett's bullish comments on banks during this morning' Squawk Box on CNBC helped boost the financial stocks in Berkshire Hathaway's portfolio today."

I think Soros, Buffet and Shiller are pretty much the only guys worth listening to, as they have demonstrated repeated success.
Click to expand...



Haha ha. Buffett owns you. You don't understand Buffetts positions and preferred shares demand he talk the banks up so he's not totally FUCKED as he's Berkshire runs into MAJOR problems losing half his value in 6 months. In the meantime, his more candid interview I posted he sees big problems.
Click to expand...

you moron, the article you posted is referencing the CNBC inverview that halik and i are referring to. are you trying to pwn yourself everytime you post?
 
Originally posted by: Zebo
Originally posted by: halik
Originally posted by: alien42
Originally posted by: Zebo
Long on stocks? Good luck w/ that! More and more economic geniuses coming around to Zebonomics every day, this time Buffett the biggest baddest dude in business for 40 years says basically we toast.
Click to expand...

i watched the interview and Warren Buffet said that he is long on stocks. Zebo self pwnage 4TW.
Click to expand...

Yeah, sensationalist bullshit FTL
Go to CNBC and actually watch the interview, he wasn't anywhere near the doom and gloom you make him out to be.

linkie
"Warren Buffett's bullish comments on banks during this morning' Squawk Box on CNBC helped boost the financial stocks in Berkshire Hathaway's portfolio today."

I think Soros, Buffet and Shiller are pretty much the only guys worth listening to, as they have demonstrated repeated success.
Click to expand...



Haha ha. Buffett owns you. You don't understand Buffetts positions and preferred shares demand he talk the banks up so he's not totally FUCKED as he's Berkshire runs into MAJOR problems losing half his value in 6 months. In the meantime, his more candid interview I posted he sees big problems.
Click to expand...

Dude, you just slapped yourself around. Take it like a man and move on.
 
Originally posted by: Zebo
Still think this is a joke? Hit bottom? Yeah right! Long on stocks? Good luck w/ that! More and more economic geniuses coming around to Zebonomics every day, this time Buffett the biggest baddest dude in business for 40 years says basically we toast.

Does anyone realize that when you are insolvent, you must restructure and deleverge to reduce debt? Does anyone realize this has a snowball effect of job loses/business closings/ etc putting more in debt? As bankruptcies climb I promise the stock market won't go lower than ZERO. With this being the case why would anyone buy stocks now? Are you crazy?

The only Bottom is in my glass - time for a refill.


http://business.timesonline.co...nce/article5875220.ece

Warren Buffett said yesterday that the US economy had ?fallen off a cliff?, describing the current crisis as ?an economic Pearl Harbor? as concern spread about the US Administration?s fitful attempts to halt the collapse of the American banking sector........ READ MORE AT SITE
Click to expand...
Click to expand...

Zebo why do you like self ownage so much.....
Buffett also said in the same interview that the road to recovery will be a long one.
Buffett also said as a nation we need to rally around Obama`s plan for the economy!!
 
Buffet is long on stocks for the _long_ term, as alien42 pointed out, but this will be an extended down turn for sure. Buying stocks now aggressively to partake in any short-term rally is fantasy-land. The recession is only just gearing up, as anybody looking at the overall picture can tell. Clearly, Buffet is looking at the overall picture, hence "off a cliff".
If you're in it for the long haul, now is a fine time to get in. Later will probably be better, however.
Click to expand...
I think this, too. And I really see the potential for it to be _much_ better later.
I think Soros, Buffet and Shiller are pretty much the only guys worth listening to, as they have demonstrated repeated success.
Click to expand...
They are not always right, though. Interestingly, Buffet says he wishes he had posted that "buy American" months earlier, but in any case the market has continued to spoil since he did and he's seen a pretty heavy hit on berkshire. He also bought, IIRC, Citgo basically at the very top of the oil bubble. He readily admits he made some mistakes in 2008 because nobody is going to get it right all of the time.
 
Originally posted by: Skoorb
Buffet is long on stocks for the _long_ term, as alien42 pointed out, but this will be an extended down turn for sure. Buying stocks now aggressively to partake in any short-term rally is fantasy-land. The recession is only just gearing up, as anybody looking at the overall picture can tell. Clearly, Buffet is looking at the overall picture, hence "off a cliff".
If you're in it for the long haul, now is a fine time to get in. Later will probably be better, however.
Click to expand...
I think this, too. And I really see the potential for it to be _much_ better later.
I think Soros, Buffet and Shiller are pretty much the only guys worth listening to, as they have demonstrated repeated success.
Click to expand...
They are not always right, though. Interestingly, Buffet says he wishes he had posted that "buy American" months earlier, but in any case the market has continued to spoil since he did and he's seen a pretty heavy hit on berkshire. He also bought, IIRC, Citgo basically at the very top of the oil bubble. He readily admits he made some mistakes in 2008 because nobody is going to get it right all of the time.
Click to expand...

Oh I was commenting on their grasp of the financial markets, rather than their investment position. I find myself agreeing with warren buffet on just about all issues (valuation, technical analysis, mark to market etc), he's got a very pragmatic approach to these issues.

I think Soros is 100% spot on with 'reflexivity' and the behavioral aspect of market behavior and Shiller has been right too many times for his theories to be flat out wrong. Plus once you read his papers on excess volatility, you'll realize there no way to defend EMH.


On the other hand, Jim Rogers is sticking to his yellow fever thesis even though he completely missed this cluster#$@ du jour and Roubini has waay to much of the "cult of personality" thing going to be consistently correct.


 
Originally posted by: Zebo
With this being the case why would anyone buy stocks now? Are you crazy?
Click to expand...
Stocks are finally valued at what they should be. All irrationality has vaporized for now. So, I bought in last week. Hmm, I look at the stock market today, and yep, I'm up over 4% already. That isn't crazy.

Stock prices are forward looking. So saying we FELL off a cliff is meaningless. Anything past tense is meaningless (including prior earnings). Yes, we've fallen, but we've landed. Now the key is what happens when we stand up and dust ourselves off. Did we fall to the bottom (ie stocks will go up from here, even if we are in a major depression). Or, did we fall and land on a ledge with nowhere else to go but down (ie stocks will be flat for a while and then fall again).

You appear to be interested in the first fall, which is now meaningless. What happens now is if there will be a second fall. I believe there may be a second fall, but it won't be a doozy. I'm willing to get in short term to catch this bounce, and long term to ride out the potential second fall.
 
This was the third fall. We have already had two bounces.

August 8th and January 2nd if memory serves me right. These were true breakouts on low volume albeit.

So many financial analysts and so much smart money on this board.
 
the markets are bouncing nicely today and all the major indexes are showing the biggest single day gains since Nov 24.

zebonomics 4TL, lol
 
I think the sun will rise till noon and then start a slow decline. About all this other shit, I could spin a million theories, but in fact I have no idea.

I do have a suspicion, however, that the markets are self hate driven and are more about human psychology than anything else.
 
Originally posted by: Moonbeam
I think the sun will rise till noon and then start a slow decline. About all this other shit, I could spin a million theories, but in fact I have no idea.

I do have a suspicion, however, that the markets are self hate driven and are more about human psychology than anything else.
Click to expand...

Moonbeam: applying self-hate to any topic since 1999
 
Originally posted by: Yoxxy
This was the third fall. We have already had two bounces.

August 8th and January 2nd if memory serves me right. These were true breakouts on low volume albeit.

So many financial analysts and so much smart money on this board.
Click to expand...
I saw a plot of the great depression's stock market and it had a ton of "bottoms". Really there is no great assurance this is one. I am still guessing that the market has not seen its proper bottom yet, but I agree with Dullard that in the grand scheme stocks are basically fairly priced right now. If unemployment gets totally out of hand and/or companies start exploding left right and center and/or the banks remain in a state of freefall the pressure will be lower again.
zebonomics 4TL, lol
Click to expand...
Last week (?) we lost 300 points in a day. We're up 300 points now. The important thing is where we are in three months and a year or two

 
Even though Zebo did pull some pretty mighty self ownage, people are taking just a little bit too much out of a one day stock market rally don't you think?
 
Originally posted by: dullard
Originally posted by: Moonbeam
I think the sun will rise till noon and then start a slow decline.
Click to expand...
On this prediction, you failed. Solar noon today was at 1:20 pm in San Francisco. Solar noon is the time when the sun stops rising and starts setting.
Click to expand...

I drove down to San Diego and was using parking meters to tell North. I brought my cell phone and was using it and the meters as a sun dial. Up in SF I think it's 12: 20. If it's 1:20 I think things will be flying off the earth.
 
It is amazing what two weeks will do. S&P up 19%, DJIA up almost 16%.

Do Zebonomics tell us that it is time to buy? I ask because I'm considering selling. I figured if Zebonomics say to buy, then it is time to sell.
 
Originally posted by: dullard
It is amazing what two weeks will do. S&P up 19%, DJIA up almost 16%.

Do Zebonomics tell us that it is time to buy? I ask because I'm considering selling. I figured if Zebonomics say to buy, then it is time to sell.
Click to expand...

i hope zebonomics says to buy because i heavily shorted towards the close today.
 
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