America's Billionaire next door, confirmed yesterday what I (Randy "Lazarus" McAtee) announced on January 14, 2008:
" ...the U.S. economy is essentially in a recession even if it hasn’t met the technical definition of one yet" (stated buffet on Monday)
The Oracle of Omaha had a significant advantage over me in that he made his announcement after reviewing the recent performance of the many businesses in his holding company Berkshire Hathaway.
I, on the other hand, didn't have the advantage of perusing the market performance of billions of dollars of assets and scrutinizing their money flow. No, my indicators were much more primitive: my revelation came from my inner compass and the use of a calculator. When I realized that I:
1.) turned right instead of left (went to Savemart instead of Starbucks) to buy cheaper coffee beans
2.) went so far as to use my calculator to compare prices - I KNEW THE RECESSION HAD BEGUN.
Naturally, I find immense satisfaction that a brilliant mind like Warren Buffet's would eventually confirm my announcement. And, while brilliant minds may think alike, my guess is that Warren Buffet will weather the recession a wee bit better than Lazarus.
© Randy "Lazarus" McAtee
Owner/Broker: Lazarus Realty