January 30, 2009
Warren Buffett discusses the financial crisis
I found this video today and strongly recommend you sit through it. At 55 minutes it is long but I was so impressed with the common sense that Warren Buffett displays on this issue.
Like most of us, I have listened to many different opinions on the topic and in this interview Warren made more sense than anyone else I've heard discuss the crisis.
As expected from a professional investor of his stature he is not in a state of panic or even worry over the state of the economy even though he has never seen things this "bad" in his lifetime. Instead he is busy acquiring bargain investments in readiness for the next phase of growth. He continues to operate on the basis of:
"You want to be greedy when others are fearful and you want to be fearful when others are greedy."
He uses an analogy of the economy being a star athlete in need of emergency medical treatment which brings a lot of clarity to the issue. Not only about what needs doing but about the futility of playing the blame game. He is pragmatic, compassionate, decisive and easy to understand.
Just watch it!
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Comments on Warren Buffett discusses the financial crisis »
Sounds great, although very long, I am going to have to catch it tomorrow. These videos totally kill my productivity!
On the upside, Warren Buffett is a pretty cool guy.
Warren is buying all the stocks he can right now and so am I. He was very accurate about the tech bubble bursting (even when it was unpopular) and his book "the snowball effect" was as entertaining as it was informative.
Warren Buffet is a very smart man and I agree, if people can afford it they should buy stock right now. I have managed to secure some good stocks of late but have to cap it at that since my cash flow is only so big.
Good videos, I saw it last week and was referred to it by a friend.
Warren Buffet is not only an expert on economic issues, but he has been around long enough to understand the ups-and-downs and various cycles that the economy encounters. Great video clip!
This video and Mr. Buffet stand as a testament to holding firm on one's financial beliefs and planning methodology.
Warren is buying all the stocks he can right now and so am I. He was very accurate about the tech bubble bursting (even when it was unpopular) and his book "the snowball effect" was as entertaining as it was informative.
Mr. Buffett recently came out publicly for a second stimulus package. The first one hasn't worked (at least not yet), so additional spend will mire us deeper into debt? The General Accounting Office said the first stimulus package has yet to bear fruit because very few funds have yet been released. I hope the sake of political expediency does not cloud the need to allow the economy to experience its cycles. To tamper further is futile in my opinion. It's like trying to control tornadoes or hurricanes. Man and his arrogance.
Just finished watching and listening to this long but inspiring video. Thanks for sharing this when at a time, a lot of people are so concerned about the economic situation and crisis worldwide. I enjoy listening to Warren Buffett business and economic thoughts and his positive outlook on economic future and growth in this video is motivating. Astute investor with an amazing intellect, he has a great analytical mind on financial issues and beliefs. He is also concise and rational and a really cool guy as well with a good sense of humor, compassion and justice.
I like his example of comparing confidence to oxygen. His motto "You want to be greedy when others are fearful and you want to be fearful when others are greedy." is definitely very inspiring. Many people would get discouraged during these tough times but instead he says take action to prosper and look forward to the future. Buffett is one of the greatest businessmen in history and his great concern and caring for human suffering lead him to donate the bulk of his fortune, around 85% to the Gates foundation about 3 years ago. A philanthropist and benevolent guy. I just digg this useful video. Thanks again.
I admire Warren Buffet for all his investments and the practices he has adhered to for so long and being one of the richest person in the world he's the most humble person I've seen. His company also incurred some losses and I think for the first time but anyways he was positive about it. His companies are still doing much better than others at the moment. We need people like Warren Buffet to create sense of calm in this crisis time.
Hmm, I find it just a bit interesting that Buffet supports the bailouts, and now is calling for a 2nd one when the first didn't work. Lets see, he made a huge investment into GE. Hmm, who is making money hand over fist with these bailouts and all these green policies? Surprise, GE is raking it in. Any wonder why Buffet is asking for a second round? A fool and his money are soon parted. The American people are being played for fools and they are definitely parting us from our money.