If you are the Oracle of Omaha, you may be blessed with Foresight. Check out his interview with CNN’s Poppy Harlow on current market conditions, ways to make the bailout work, and some of the opportunities available. Here are some quotes from the interview:
The Bill that is before Congress is not a panecea. It is going to take some time.
The economy is like a great athlete that has had cardiac arrest.
We’ve had a lot of cash, this is the time to use it. I’m not going to say that it is better to use than two months from now, or five months from now, but five years from now, this is the time to use it. We are getting the chance to buy in to first class businesses, with first class people, and we are getting it with terms that are very attractive. And when you put that together, you write a check.
In May Buffet said,
As house prices fall, a huge amount of folly is exposed. You only learn who has been swimming naked, when the tide goes out.
When asked by Harlow who he sees as having been “swimming naked” Buffet replies:
Wall Street has turned out to be a nudist beach basically.
Click here to watch the video.
