US billionaire Warren Buffett talks to SPIEGEL about the consequences of the current financial crisis, his definition of true luxury and why he has suddenly developed an interest in German companies: more >>> http://www.spiegel.de/international/business/0,1518,556114,00.html
Looking to the future? Warren Buffet has set his sights set on acquiring German companies.
Let's the Genie Out of the bottle...
As you can see the gene is out of the bottle... For a while now Warren Buffet had his eye on Europe and made a trip in Italy, Spain, Germany and Switzerland to search out targets and to put the word out that Berkshire Hathaway is the right home for privately-held businesses that are looking to sell.
" Mr. Buffett added, "I'm willing to bet the dollar will weaken against other currencies over the longer term, so I feel no need to hedge those currencies."
He stated that "That's the problem. You can no longer control or regulate this sort of thing. It's taken on a life of its own. You can't put the genie back into the bottle. The American central bank, the Fed, tried to exert its influence by lowering interest rates, for example. The Fed and the US government have absolutely no interest in promoting the extreme fluctuations we are now experiencing. Nevertheless, they were also unable to prevent them".
What is about Warren Buffett that makes him such a consistently phenomenal investor? Is it that he's zigging and zagging along with the market's every move? Is he trading all the time, buying this and selling that, racking up taxes and commissions all the while?
No, no -- what makes Warren Buffett the investor different whom every
other investor is the way he approaches investing. He's patient and does
thorough research. He waits for the right price to buy. He seeks to never sell
the companies he invests in. He's the anti-trader, if you will. He is not the
one to flaunt his riches is simple and down-to earth. He does not have a
cellphone, has no computer on his desk, drives his own car and does not have
security guard with him. He continues to live in the same house in Omaha that he
bought in 1958 for $31,500. He says that he has everything he needs in that
house. His house does not have a wall or a fence.
And he is the world's richest man, the living legend, Warren Buffett! One of the
most successful investors the world has ever seen
So what his latest move tells us? ... Investors take notes! Let's the Genie Out of the bottle...
Great lesson.. from some one that could have every thing and any thing he is happy with what he has,,, he has won the game buy looking at what he and others need and investing in that instead of chasing every fad that pops up
Apart from his research, his "amount clout" carries weight in ways that other investments don't.
He is good, but, he also has made his mistakes. He almost missed out entirely on hi-tech, coming into that very late.
It is very interesting that he is for raising taxes, but, instead of giving his billions to the government to redistribute, upon his death, they go to the Gates foundation.
Warren Buffett Arina may be considered a contrarian investor. You can't dispute his success in the financial world. The fact that he doesn't flaunt his wealth makes him different too. As far as hi tech he says he doesn't invest in that which he doesn't understand.
Nice post and thanks for the information
He is an amazing man. Sorry, but if I had his wealth - there is no way I would be that level-headed. Which I guess is why I don't have his wealth.
Arina - Very interesting post. I admire that he realizes he has all he needs in regard to material things and doesn't flaunt his wealth in that way. Especially since we live in a society of pretentiousness. He doesn't even need to pretend to have it all, but instead has decided he really doesn't need all that he can afford.
Eric, Simplicity and humility are qualities only giants can afford.
Thank you for coming!
Heath , How exactly does he do it? We'd all love to know. Fact is, while millions of people have flocked toward Buffett-style investing, few, if any, have matched his awe-inspiring record.
Mike, Buffett has pledged to gradually give 85% of his Berkshire stock to five foundations. A dominant five-sixths of the shares will go to the world's largest philanthropic organization, the $30 billion Bill & Melinda Gates Foundation, whose principals are close friends of Buffett's (a connection that began in 1991, when a mutual friend introduced Buffett and Bill Gates).
He is in Obama's court.
Gary, You must (we all do...) like this man not only for the achievements but the character he demonstrates... He is your type of person: He is simple, humble, does not have a cellphone, has no computer on his desk, drives his own car and does not have security guard with him. He continues to live in the same house in Omaha that he bought in 1958 for $31,500. He says that he has everything he needs in that house. His house does not have a wall or a fence.
Charlie, Glad you enjoy it! Thank you for coming by.
Kevin, If we all could... He's recipe for success is: He's patient and does thorough research. He waits for the right price to buy... He was also lucky enough to have a long life in an economy that closed doors for him... Or he knew what doors to open at the right time!!!
Carol, Thank you for coming by!
You are so right, First and foremost Mr.Warren Buffett is a strength of character, an unassuming humbled person who does what he does for the benefit of others... He creates a great positive energy (karma) to himself. Money is an other form of energy and can be employed under special circumstances. He found the secret!