Randy Jones | March 2, 2009
FDR’s famous words were echoed this weekend as Warren Buffett released his latest shareholder’s letter, indicating that Berkshire Hathaway had lost $11.5 billion in net worth in 2008, the worst performance in the 44 years he has been managing the company. As usual, Buffett makes a very good point when he says, “The U.S.—and much of the world—became trapped in a vicious negative-feedback cycle. Fear led to business contraction, and that in turn led to even greater fear.”
Category: In the news, Investing and Wealth Management |
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Tags: Berkshire Hathaway, FDR, Franklin Delano Roosevelt, Warren Buffett
Randy Jones | February 20, 2009
As Citibank becomes the Two-Buck Chuck of the Dow and those 201(k)s we joked about are quickly turning into 101(k)s, it’s a good time to be flush with cash, because bargains are plentiful. Even so, the rich, like everyone else, are staying on the sidelines, and if that continues, so will the recession. Until President Obama stimulates the wealthy to start spending again, this economy will never get satisfactorily stimulated.
Category: In the news, Investing and Wealth Management |
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Tags: Citibank, Dow Jones Industrial Average, President Obama, real estate, the Hamptons
