Skip to comments.Warren Buffett confesses he 'struck out' in 2004 (advised Schwarzenegger to dump Prop 13, remember?)
Posted on 03/05/2005 1:32:26 PM PST by SierraWasp
Warren Buffett confesses he 'struck out' in 2004 (BRKA, BRKB)
By Thomas Middleton
NEW YORK (MarketWatch) -- Warren Buffett, renowned investor and chairman of Berkshire Hathaway Inc. (BRKA) , said he "struck out" in 2004 by failing to make acquisitions that would have increased earnings. In his company's 40th annual report Saturday, the 74-year-old CEO said Berkshire Hathaway increased its net worth by $8.3 billion last year. That increased the company's per-share book value by 10.5%, which fell short of the Standard & Poor's 500-stock index, which posted a 10.9% return for 2004. Buffett said he found "very few attractive securities" to buy in 2004, and added: "Berkshire therefore ended the year with $43 billion of cash equivalents, not a happy position."
Buffet, like so many vain zillionaires, donates heavily to abortion mills.
The other thread that I missed in my search, says that Buffet was afraid to get into women's underwear with his Fruit of the Loom entitty and lost his shorts!!! (snorts!)
Yes, I'd like to have just one percent of what these vain gazillionaires as you call them, have wasted, or made grave errors with!!!
The left wing maggots idolize Buffetbutt and $oreA$$ because they are super rich elite left wing fascists.
If they were conservatives, the MSM would cover them like an electron microscope 24/7/365.
Regretably Warren Buffet supports abortion and international family planning, and may channel a lot of money into liberal causes when he dies.
But he has more than proven himself as a smart money manager. If the worst he's done is only a fraction of a percent under the S&P 500, he's a lot smarter than almost any other investor.
The truth is, most investment managers do worse than the S&P 500 almost every year, and sometimes a lot worse.
Guess he really came up short on that deal... Ha Ha Ha!!!
Let's hear it for Fruits of the Looms!!! Ha Ha Haaaaaaaaaaaaaaaaaaaa... (gasp!)
He like most everyone else, rarely beats the indexes!
Buffett said he found "very few attractive securities" to buy in 2004
Investors could pick up some Van Kampen securities (VAP,VCV,VKA,VKI,VPQ,VTF,VTN) fairly cheap during May 2004. Lots of trash paper floating around. Quality securities seem stuck in a flatline, neither cheap enough to buy, nor expensive enough to sell.
Some of the babies they kill ..makes me ill.
why do the peoole with money hate the life and
happiness of the ordinary guy and gal? There
is something about the evil of these men..just
take a long look into the eyes of men like Soros
and Buffett....they are expressionless...no life.
Now take a long look at the eyes of President Bush...
you can see the confidence and exuberance of the
man....try it. Jake
If you ever find the answer, please let me know. You oughta see this game at close range...
Smart does not make you rich and being rich does not mean you are intelligent.
Buffet has said some of the most inane things over the years.
He may know how to value under valued companies, but he has a lot to learn about macroeconomics.
Ok, I did... and you're absolutely correct, M.C.!!!
Say! Could you fill me in on mangoeconomics???
I've heard they can get REALLY crazy!!! (grin)
"He was too busy hoping President Bush was blowing it..."
You nailed it! He didn't want to do anything that might benefit the economy during the election, and he lost on both counts. He missed out on some profitable investments and he got nothing in return for his political donations. I wouldn't trust him to put my change in a parking meter.
The man has never split his stock that's why his portfolio Berkshire Hathaways Class A & B stocks are so expensive. The so-called "little people" can't afford it. Also, that's why I'll never buy GEICO insurance which is owned by Berkshire Hathaways. Still maintain the man isn't the financial wizard that Wall Street makes him out to be.
Business acumen != political acumen
See Bloomberg, Michael
Yer RIGHT!!! And drop that Costco Membership and drop your PROGRESSIVE auto insurance... in fact there's quite a list of America/Bush/Repub/Conservative hating financiers out there that MUST be taught better manners... Especially anything to do with Hollywood!!!
Actually the B's were created so that more people could afford shares. They have since moved up. Certainly the man's right in a free market economy to distribute his company's stock how he sees fit.
The fact that many cannot afford the price of his stock seems to counter the "man isn't the financial wizard" argument.
I might not like the guys politics but it's hard to argue with his success financially.