Listen to Warren Buffett – One Reporter’s Opinion
Source: http://Blog.QualityStocks.net/?p=13119Posted on Saturday, October 25th, 2008 | In Small & Micro Cap
The media’s reaction to the latest letter from Warrren Buffett has been nothing short of distasteful. Warren’s sage-like advice last week saying that he’s personally investing in U.S. companies has been discredited by news reporters across the country; basically by stating that he is crazy for saying that there’s a silver lining to this catastrophe. Reporter Andrew Carpenter asks this simple question, “If Warren Buffett were sitting in your living room having coffee and playing bridge with you and, say, financial guys from FOX News, CNBC and the Internet, whose investment advice would you take?”
Andrew Carpenter goes on to state, “Not taking Warren Buffett’s advice is like turning down free golf lessons from Tiger Woods because everyone knows golf is a white guy’s game.” While we may have a differing opinion than Mr. Carpenter on how to illustrate the vast contrast in the media’s assessment of the situation, we do agree that the lack of positive spin in the major publications on Warren Buffett’s letter is a serious issue.
In every negative situation, there is a positive aspect to the event as you look at the situation on a grand scale. Warren Buffett looks at the entire industry from this wide angle lens. Perhaps it’s not wise to discredit the “Oracle of Omaha” simply for our narrow views on the subject. Yes, the markets will turn around eventually and those poised to capitalize on the bargain basement prices now are going to profit in the future. It is from this perspective that we should take a few lessons from the masters and trust their judgment.
Let us hear your thoughts below:
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Andrew Carpenter, golf, Omaha, Oracle, Small & Micro Cap, United States, Warren Buffett
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