Jeff Miller

Top 5 Quotes from Berkshire's Annual Meeting

WB did not say that we are headed into stagflation. The CNBC transcript cites him as follows: "Inflation has the "potential" to be worse than the 1970s." www.cnbc.com/id/29592831

The author of the piece in your link mentioned that the 70's was a time of stagflation. The term "stagflation" is not mentioned in the transcript.

WB remains positive on economic prospects, as this helpful summary indicates.


On May 03 07:01 AM chleoku wrote:

> Any further words on Buffett's view on the Stagflation that we are
> heading to?
>
> www.wealthalchemist.co.../
>
>
> Does he think that is still going to happen?
>

Investment Outlook: Lessons from Jim Abbott and the Wall of Worry

I always read and appreciate comments. I also try to learn. Each day I look at the most popular articles on Seeking Alpha, on Money Watch, and what my colleagues at RealMoney are writing about. There is plenty of skepticism.

Those who have followed me for a long time know that I post various bearish items on indicators like the ISM and employment. Our own model has been more negative than the BLS for several months (but not because we think they cook the books!) Unlike most other writers a post our official position each week, and it changes with the evidence.

It really seems like most of the big-time bloggers and pundits are playing for a big correction. Meanwhile, many stocks are trading at prices that were once thought to be attractive. Let's not over-think this....

I need to get a better handle on sentiment. Most of the traditional measures have not worked too well, so I am trying to highlight some other ideas.

Thanks again to all.

Jeff