Excerpts from Warren Buffett's annual letter

[HHGT]

"Money will always flow toward opportunity, and there is an abundance of that in America,"

http://www.businessweek.com/ap/financialnews/D9LKM97G0.htm

 

[timcantwell]

Thanks for sharing I just now finished an article about him and the letter in the New York Times. Timely stuff.

 

[PL510*Jeff]

In other words - use huge amounts of common sense and not huge amounts of borrowed money.

 

[Nardo GT]

In other words - use huge amounts of common sense and not huge amounts of borrowed money.

Always worked for me. Well said Jeff. Too many operate on "other people's money"...be it a bank or private investor. I don't, and haven't, admired or respected folks who do. I have seen lots
of "money men" (private investors....especially in flooring dealers) lose their shirts.

 

[HHGT]

Our economy will never return to the way it used to be, for 2 main reasons;

1) Joe public can no longer use his house as an ATM machine, and...
2) The US government as whole (Federal, State, Local) has lived on a borrowed $ mentality

IMO the economy may rebound but not to the levels we have been accustomed to.

 

[BlackICE]

Our economy will never return to the way it used to be, for 2 main reasons;

1) Joe public can no longer use his house as an ATM machine, and...
2) The US government as whole (Federal, State, Local) has lived on a borrowed $ mentality

IMO the economy may rebound but not to the levels we have been accustomed to.

:agree:

Also the world's labor force is getting more competitive everyday.

GDP ~ effort * knowledge

effort ~ 1 / (regulation * taxes)