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13 Comments on Warren Buffett buy signal - should we follow ?
Hi Guys when there are only a few entities left standing like Goldmans over the long term it looks like a good bet.
I heard that yesterday too, sounds like he always knows when to buy. Gee, if he start snapping up Foreclosures in Nebraska, that would be interesting.
Bill - definitely looking like a good bet. Especially with this Buffet news. Morgan Stanley and Wachovia look like great values now in addition to Goldman.
Mary - you are right ! Is good to watch what some people do.
I prefer to have someone like Warren Buffet buying in to Goldman Sachs than someone from the Mideast. Maybe this will encourage more investors to buy in instead of sitting on the fence.
Christopher and Stephanie:
Of course this is a buy signal, early but a buy signal. Congress is doing the right thing and we will put loads of capital in the system along with all the sovereign funds from around the world.
You will have look back at some later date and say,I knew it.
I am going to right a long more complete report when I have some time.
Look, if it isn't the bottom then syanara.
Jerry - agreed. It is nice to see a large domestic investment coming from a domestic source for sure.
Richard - Yes, I think you are right. If I was more liquid, would be picking more away at some bargains !
What Warren Buffet did is like an illusionist or a magician. Not everything he did is as it appeared. That was a PR move, and a political endorsement of the idea. A lame attempt at calming the markets. He has loads of parachutes in the deal,and guareenteed profits of 10% - and can sell at any time.
Buffet also announced last week he is buying Constellation Energy, parent company of MD Local BG&E (Baltimore Gas & Electric)
Christopher & Stephanie,
Thanks for the post. Have you ever known Warren Buffett to be wrong? If I too, were more liquid I'd be picking up a few things along the way!
Jim - Im not sure ... once Warren is in, he typically is in for the long term with his value investing approach.
David - that Energy play is probably a great investment as there is a lot of value there as well.
William - you and me both ! Most of our liquidty is tied up in real estate ! Which is a great thing ! The markets are very tempting, but risky. I still would be picking up some banks and homebuilders though.
Buffett is a business man. He gets great advice and has the money to follow through. BUt be mindful that his financial investments are helping him personally and is based on his own portfolio. His investments may not be beneficial for others. He's a great template though and it certanly doesn't hurt to use him as a guide of sorts.
In Warren Buffett I trust!
Joe
Castellum - I agree that he is a good indicator of sorts.
Joseph - LOL, I hear you... lets keep our fingers crossed about the recovery plan - banks like Wachovia really need it... as well as stockholders of banks like Wachovia !