Buffett’s Outlook Monday, March 2, 2009
Posted by ei-forum in Buffett Watch.trackback
As everyone is reporting, Buffett states that he sees the economy “in shambles throughout 2009 — and for that matter, probably well beyond,” …. however, as usual, he remains optimistic and true to his investment philosophy and the fact that he still can’t answer the question on whether the stock market will rise or fall.
He admits that he did some “dumb things” but that does not mean that he will not correct them or make the same mistakes again. He continues to have ample amounts of cash at his disposal which we will be looking to put to work wisely.
Most people are saying that this is the most pessimistic letter ever but this is not surprising seeing the current market condition. Our suspicion is that – due to the REAL uncertainty throughout the globe – Buffett will continue to hedge against the worst buy focusing on money markets and preferred deals until the time comes to step back into the equity markets.
More to come…
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