TBO.com - TBO is Tampa Bay Online

A Revered Investor Speaks

ADVERTISEMENT

The New York Times

Published: March 1, 2009

At a time when every rule of investing has been turned on its head, there is apparently one constant: The renowned investor Warren E. Buffett has kept his sense of humor and his gift for plainspoken investment wisdom.

In his annual letter to shareholders of his holding company, Berkshire Hathaway, released Saturday morning, Buffett sifted through the wreckage of his worst year in four decades at the helm.

The letter made clear that Buffett is appalled by much of what has happened in the markets lately.

A LOOK AT WHAT HE SAID

THE ECONOMY

Buffett wrote he's certain "the economy will be in shambles throughout 2009 - and, for that matter, probably well beyond - but that conclusion does not tell us whether the stock market will rise or fall."

HIS OWN MISTAKES

"Last year I made a major mistake of commission and maybe more; this one sticks out. Without urging from Charlie or anyone else, I bought a large amount of ConocoPhillips stock when oil and gas prices were near their peak. I in no way anticipated the dramatic fall in energy prices that occurred in the last half of the year."

HOME BUYING

"The present housing debacle should teach home buyers, lenders, brokers and government some simple lessons that will ensure stability in the future. Putting people into homes, though a desirable goal, shouldn't be our country's primary objective. Keeping them in their homes should be the ambition."

A LOOK AT WHAT HE SAID

Information from The Associated Press was used in this report.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT