CNBC: The "End" of Warren Buffett

[MachM]

Just days after renewing his public criticism of Warren Buffett's current investment strategy and situation, the well-known short seller Doug Kass is out with a very bearish outlook for Berkshire Hathaway shares.

And this time he's not just making a short-term prediction as he did last year when he bet against Berkshire's stock for several months and then covered that bet at a profit.

Today on TheStreet.com, Kass asks, "Is This the End of Warren Buffett?"

Based on reported Berkshire holdings as of September 30, and the stock moves since then, Kass estimates:

Wells Fargo: $6.3 billion lost on 290 million shares

American Express: $2.9 billion lost on 151 million shares

Coca-Cola: $2.1 billion lost on 200 million shares

Burlington Northern Santa Fe: $1.8 billion lost on 63 million shares

ConocoPhillips: $1.5 billion lost on 60 million shares

U.S. Bancorp: $1.5 billion on 73 million shares

http://www.cnbc.com/id/28877530

 

[MachM]

According to Dr. Marc Faber, S&P 500 is heading towards 100-levels. So DOW Jones will also reach 2000-levels because of $60 Trillion to $100 Trillion loss to the world economy.

http://www.marketoracle.co.uk/Article7923.html

 

[Agent CSL]

Not until he's forced to live with me.

OHNOES I LOST $20Bn.. I only have 500m left! Woe is me!

 

[Knighted]

Berkshire shares are still beating all of the major market indices last I checked. Doesn't look like the end to me.

 

[MachM]

Berkshire shares are still beating all of the major market indices last I checked. Doesn't look like the end to me.

Short Sellers are responsible for majority of stock crashes.

If the well-known short seller "Doug Kass" is saying "End of Warren Buffett", there has to be good meaning behind it.

Maybe the stocks in Warren Buffett's investment portfolio are going to crash.

 

[Jeez]

According to Dr. Marc Faber, S&P 500 is heading towards 100-levels. So DOW Jones will also reach 2000-levels because of $60 Trillion to $100 Trillion loss to the world economy.

http://www.marketoracle.co.uk/Article7923.html

For that to happen Dow needs to be trading at 3 to 4 P.E ratio most company have already cut costs err Jobs. Currently Dow is around 11 to 12 P.E based on forecasts.

 

[Cleaner44]

Short Sellers are responsible for majority of stock crashes.

Wrong. Do some homework and then try again.

 

[clb09]

It's funny how people who have not accumulated a fraction of the wealth of Buffett always pop up from time to time and "count him out".

God will decide when its over for Buffett. Until then he will continue to buy during down markets and grow his empire just as he has done through all market conditions for over 45 years.

Read this article from 2000 and this article as well.

Remember, the conventional thinking at the time was we were in a "New Tech Economy".

A couple of quotes:

Historically, Mr. Buffett has avoided technology investments. ''We share the general view that society will be transformed by their products and services,'' he wrote in the annual report. ''Our problem -- which we can't solve by studying up -- is that we have no insights into which participants in the tech field posess a truly durable competitive advantage.''

and

But several gently asked why Mr. Buffett could not find a way to make money on technology stocks. Gaylord Hansen from Santa Barbara, Calif., said he had lost money on his Berskshire investment last year but made up for it with four tech stocks.

''Are we asking too much,'' he asked, ''that you put your brain to work and spend a little bit, maybe 10 percent of our money, in the only play in town, which is technology?''

Nothing doing, replied Mr. Buffett, repeating his stock answer: ''We will never buy anything we don't understand.'' Later, he said he doubted anybody -- not even his friends Bill Gates and Andrew Grove of Intel -- truly knew which technology stocks would be doing best 10 years from now.

He, as always, had the last laugh!

 

[danberkeley]

Short Sellers are responsible for majority of stock crashes.

Like which ones?

 

[surf]

not as long as he can be seen as the "oracle of Omaha" and speak on CNBC anytime he damn well chooses.

oh, and he doesn't drive a hummer so he must be ok....

 

[hugolp]

Short Sellers are responsible for majority of stock crashes.

I remember that Jim Rogers was asked about this on TV and his response was something like this: "If you think that short sellers are to blame for this crisis you should go and study more. Or maybe you should quit your tv host job".

Hugo

 

[danberkeley]

I remember that Jim Rogers was asked about this on TV and his response was something like this: "If you think that short sellers are to blame for this crisis you should go and study more. Or maybe you should quit your tv host job".

Hugo

The exact quote was, "if you are going to blame this on short sellers, you should (pause) get another job."

 

[Paulitician]

The exact quote was, "if you are going to blame this on short sellers, you should (pause) get another job."

That was fucking hilarious, and a little awkward at the same time. The host must have felt terrible

Short sellers are effect, not cause.

 

[MachM]

4 months back, I had a discussion with a "Big player" and he said to me "We are the ones who move the markets".

This "Big Player" is from Saudi Arabia. He has business contacts with Prince of Saudi Arabia.

Big players are responsible for stock markets rise sky-high and

Big players are responsible for stock markets crash rock bottom.

 

[Truth Warrior]

How may BILLIONS in wealth does Warren personally have left now? < LMAO! >

 

[Primbs]

Buffet has huge free cash flow from Geico insurance.

Buffet will use all the cash he makes from Geico to buy more companies.