Redman

Why Is Everybody Selling as Buffett Is Loading Up?

Buffet can afford to wait...but he could be early and wrong this time around...consider his previous over-weight allocation in insurance.
Sure he'll get a 10% dividend on his preferred shares..IF..Goldman and GE don't have future problems. Nothing is sacred in this atmosphere..even Buffet.

A Letter to Warren Buffett

I totally knew that!! Yet when Mr. Fuld reads this "joke"..along with whoever else comments on it, maybe...just maybe...he and all the other CEO's will finally get the picture...it's your mistake and the taxpayer ain't gonna bail you out!

A Letter to Warren Buffett

Mr. Fuld has rightfully acknowledged Mr. Buffet's skepticism of the business visa vie his past experiences with Solomon..time notwithstanding. But I believe there is no fundamental difference between the mentality that existed in 1991 and today's circumstances in that "human nature drives market psychology". This fundamental fact hasn't changed since the days of Jesse Livermore 100 years ago. And, sadly..it will never change no matter how Mr. Fuld "dresses it up". Traders are and have always been..risk takers, and to say that Mr. Buffet fits into that catagory is a bit ludicrous given his modis operendi for longer term investing.
And make no mistake...from what I remember about him trying to "rein in" Solomon's desk..it ultimately did nothing to diminish the "Solomon Mentality".
Maybe some of us remember that originally Philip Brothers (Phibro) took over Solomon only to have their roles reversed.
All of this seems a bit rhetorical given the timing. Where was this offer a year or two ago if Lehman was such a great investment?
With respect to both parties..yes..such an investment could bolster confidence in the financial sector...BUT...and this is a very large BUT..these investment banks, who, many times, have tried to "re-invent" the financial wheel so to speak...are/were supposed to know what they were doing. After all..it is their business to know! So why should Mr. Buffet, or anyone else for that matter plunk down huge amounts of money to bail these guys out? "Your country needs you?" I think that's re-packaging a financial company like they re-packaged and called-in the mortgages that this countries foundation is based on!