Buffett suffers a lot in this financial crisis!

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Buffett suffers a lot in this financial crisis!
Nov 26, 2008 02:33 GMT-6
JIMMYB Points: 6322 Join Date: Feb 7, 2007 Status: offline	Buffett suffers a lot in this financial crisis! The US financial crisis has brought great losses to Buffett. It is said that Buffett has had 28 billion dollars locked up in the market. On Sep.23, Buffett bought some shares of Goldman Sachs at the price of 115 dollars per share. This Wednesday, Goldman Sachs' shares went down to 55.18 dollars, 55 percent decrease. On Oct 1, he bought the ordinary shares of General Motors at the price of 22.15 dollars. Now the shares decreased to 14.45 dollars. This year, Buffett has spent about 28 billion dollars to do acquisitions and security investment. Now it seems that he chose wrong time. On the other hand, Berkshire Hathaway shares have slumped 12 percent from 11550 dollars to 84000 dollars. This is the biggest slump in recent 23 years.

Nov 27, 2008 20:12 GMT-6	#1
MARRIE Points: 2646 Join Date: Jan 7, 2008 Status: Offline	It's only he who can afford buying cheap chips in receession. So who can say he is a loser.

Nov 27, 2008 20:44 GMT-6	#2
SHESGOTTOBE Points: 3530 Join Date: Nov 23, 2007 Status: Offline	Buffet doesn't consider it a loss. The best time to buy is when the stocks are low because he knows that they will go up again. This is a cycle, it happens every few years. Actually, the ones who lost are the ones who panicked and sold their stocks. He has a different mindset when it comes to investing.

Dec 2, 2008 03:48 GMT-6	#3
KEVIN0518 Points: 4645 Join Date: Mar 13, 2007 Status: Offline	Someday, his losses will be made up as long as the shares that he bought bounce back.

Dec 2, 2008 22:22 GMT-6	#4
GRIZ326 Points: 4008 Join Date: Jun 12, 2006 Status: Offline	It is difficult to imagine Buffett suffering. On the other hand, he's losing in one hour what many of us earn in a lifetime.

Dec 2, 2008 23:39 GMT-6	#5
COOLSPRINGS Points: 713 Join Date: May 19, 2008 Status: Offline	He is conducting selling short or buying what he sold to cheat out others' chip and build up inventory with low cost in medium term? Only he who has this economy of scale!

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