UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next
Author: pencils2 Big gold star, 5000 posts Feste Award Nominee! Old School Fool CAPS All Star SN Explorer 1 Mission Team Member SN Phoenix SN Olympia3 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 7172  
Subject: Buffett wary of real estate, commodities spec. Date: 5/15/2006 9:57 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0

Buffett wary of real estate, commodities speculation

Monday May 8, 9:58 pm ET
By Jason Zweig, MONEY Magazine senior editor

OMAHA (MONEY Magazine) - At this weekend's annual meeting of Warren Buffett's Berkshire Hathaway, security is tighter than usual, with several entrances to the parking lot of the Qwest convention center closed.

This may have something to do with Buffett's announcement yesterday of his purchase of an 80% stake in Iscar, an Israeli-based metal cutting tools firm, for $4 billion. In one fell swoop, that makes him one of the biggest foreign investors in Israel. With that news, a little extra security amidst the sea of the roughly 20,000 shareholders and acolytes in attendance can't hurt.

Regardless, Buffett and Berkshire Hathaway vice chairman Charles Munger threw Saturday's entire morning open to a question and answer session with shareholders just as they do every year. With no major scandal or news event in the foreground, Buffett and Munger struck a more reserved tone than they have at past meetings.

But their views on housing prices and the energy and commodity markets may ruffle some feathers. Buffett played his usual role of the talkative, cheery extrovert, speaking in perfect paragraphs, while Munger took the role of the laconic, crotchety critic whose favorite sentence is "I have nothing further to add."

This article is a week old, but take a look at the end of it, there are some intersting quotes from Buffett and Munger. I'm also posting this because Jason Zweig, IMO, is one of the best financial minds out there (He was the one who wrote the updated commentary in The Intelligent Investor), I would recommend his work to everyone.


David K
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next


Post of the Day:
Macro Economics

Hail to the Index Fund
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.