December 10, 2008

Buffet on the Economy


I enjoyed this so much I thought I would share it. Clipped from a Fortune Magazine Blog earlier:
Warren Buffett emailed this note to the directors of his company, Berkshire Hathaway (BRK.B), Tuesday after he heard that the U.S. Treasury sold $32 billion in 4-week bills at a yield of 0%:

“This should be bullish for Berkshire. With great foresight, I long ago entered the mattress business in a big way through our furniture operation. Now mattresses have become fully competitive as a place to put your money, and sales will soon take off.”


It certainly does underscore the cool nature of Buffett during these hard times, and a reminder of how we should all keep our heads on and look for value.

4 comments:

Ethan Bloch said...

That is awesome! Thanks for sharing.

Ethan Bloch said...

I forgot to ask: Do you have a link to the Fortune Magazine blog post?

toby said...

Hi Ethan, thanks for the post. Yes here is the link to the source: http://postcards.blogs.fortune.cnn.com/2008/12/09/power-point-buffett-bets-on-mattresses/

Ethan Bloch said...

Thanks Toby.