Robert Perrego

2 Concerns with Michael Lewis's Review of Buffett Book 'The Snowball'

Uhhh yeah - but news out today says Buffett is running low on cash these days. He started buying the bottom on March 2008 (with Bill Miller and Eddie Lampert - other value legends that got destroyed in the last year) and blew most his wad while stocks were still coming down. Now his dry power is mostly used up and he has massive positions to average down and don't forget his $34 billion put. We get a new low in this market and his average down approach is DOA and the only time he will be happy is getting tax refunds when he posts massive losses every quarter.