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Buffett Rules Out "Double Dip" Recession
The media and the market has been running with it relentlessly along with European debt problems. The great man Warren Buffett has ruled out a second recession in the US.
“I am a huge bull on this country,” Buffett said recently to the Montana Economic Development Summit. “We will not have a "double dip" recession at all. I see our businesses coming back almost across the board.”
Well what has the worlds greatest investor been doing during the Global Financial Crisis?
He spent US$5 Billion acquiring a stake in the iconic investment bank Goldman Sachs. Only weeks after this purchase the share price of that investment had halved from his purchase price. However, market movements don't bother Warren and he is now sitting on quite a tidy profit not even a couple of years later.
He also bought railroad Burlington Northern Santa Fe Corp. for US$27 billion earlt this year which was "a bet on the US economy".
Buffet commented “I’ve seen sentiment turn sour in the last three months or so, generally in the media. I don’t see that in our businesses. I see we’re employing more people than a month ago, two months ago".
Buffeted commented “It’s night and day from a year, year and a half ago”.
“I am a huge bull on this country,” Buffett said recently to the Montana Economic Development Summit. “We will not have a "double dip" recession at all. I see our businesses coming back almost across the board.”
Well what has the worlds greatest investor been doing during the Global Financial Crisis?
He spent US$5 Billion acquiring a stake in the iconic investment bank Goldman Sachs. Only weeks after this purchase the share price of that investment had halved from his purchase price. However, market movements don't bother Warren and he is now sitting on quite a tidy profit not even a couple of years later.
He also bought railroad Burlington Northern Santa Fe Corp. for US$27 billion earlt this year which was "a bet on the US economy".
Buffet commented “I’ve seen sentiment turn sour in the last three months or so, generally in the media. I don’t see that in our businesses. I see we’re employing more people than a month ago, two months ago".
Buffeted commented “It’s night and day from a year, year and a half ago”.
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