what Buffett said in Nov. "Buffett U"?
The world's most famous investor has been hosting a annual one-day crash course in business -- "Buffett University" -- for the past nine years. This year (on Fri, 21 Nov 2008), FOX Business Network was invited behind the scenes to cover the event. The attendees coming from B-schools such as Notre Dame, Wake Forest, University of Nebraska and more were able to ask the Oracle of Omaha questions on topics ranging from politics to the economy to business and investing. However, I missed the show on December 4th at 7:00pm, and I can not find the TV clips in Fox's website, hence, I searched for the words Buffett said.
Warren Buffett saying that, Barack Obama probably might not be in the position to raise the capital gains tax and change the tax code right now given the current economic condition.Question: "If the students ask you if if you're worried about Goldman Sachs and everybody so worried about city group right now but. Are you worried at all for these big financial claims that are still standing?"
Buffett's answer: " Their businesses are all tough now but They're going be around. I mean their buisinesses has been tough at other times, when I got out of school there may be no money could been made on Wall Street at all. Wall street has gone through some tough periods, this time, well, the institutions has got very very leveraged, and the whole world try to de-leverage at one time, I mean, there is a lot of pain that goes around. but the Goldman's in the w
orld, they are going to be around."Buffett said, "But i do sell stock, not very often. We do sell sometimes, we got to put the money in the Goldman Sachs prefer, the GE prefer.......I'd like to keep a lot of money around. so I would sell some banks if I need to sell to buy something else. "
Buffett said for the 16 years unemployment high: " there are gonna be more people unemployed but I don't worry about how we come to an end. I am not worried 5 years from now, 5 months from now could be very painful..... there is no way to change a negative feedback like we are now in a month or 2 month, that's not going to happen, it will happen eventually, and we will go on to new heights, but they will not turn around in the next year."
Buffett commented on Berkshire Hathaway's price plummet this year: " It does not make any difference. ....I looked to the farm and I looked to the business to dertermine my results."
The above is based on news in Fox Buisiness. He is a smart guy and always keeps a lot of money around. Buffett also emphasized the importance of communication skills. Buffett explained that he believed that communication skills (both verbal and written) aren't taught to grad school students because he believes the institutions believe it's, "beneath them". He went on to say, "your ability to convey your ideas to others will be an enormous determinant to your success".
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