Huge, nearly an hour long Buffett video, via Bloomberg:
Billionaire Warren Buffett speaks at a news conference in Frankfurt at the start of a four-city European tour about his investment strategy and plans to add European companies to the portfolio of his investment and holding company Berkshire Hathaway Inc. Eitan Wertheimer, president of Israel’s Iscar Metalworking Cos., also speaks.
See also: Buffett’s Shopping Trip to Europe Draws a Crowd
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Source:
Buffett Sees ‘Plenty’ of European Acquisition Targets: Video
Bloomberg, May 19 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a1JKvEK68ZUU
Warren Buffett’s one of the few Americans that can afford to travel there.
What Warren is doing is like showing up in a teeming oriental bazaar with an expensive camera around his neck, waving a fistful of hundred dollar bills and announcing, “Hey, you colorful exotic villagers, I’m looking for bargains!” Yeah, right … have we got one for you, tourista pal!
There’s also a problem with his timing. Later this year is likely to be when the REAL bargains arrive — as big, black headlines are proclaiming the imminent demise of the global economy, with credit unavailable at any price.
Warren Buffett should have quit while he was ahead. This last, highly-public victory lap is not going to redound to his advantage. Short Berkshire Hathaway.
Agreed. Warren is showing his age. First the muni-insurance and now this?
Might be time for him to quietly make his exit. He’s had one hell of a run….better to do a Seinfeld than a Saturday Night Live.
I’ve got no take on this shopping trip but getting into muni insurance is bad how??
Warren Buffett is an annoyance. The media acts like a bunch of sychophants and parades him around as if he is an example of a great everyday american investor. Bullshit. Buying an entire company is not an option for the average investor. As an investor, I cannot wake-up every 20-30 years and decide to buy a company–that is collecting not investing.
I think this is an extremely bearish long term signal for the dollar.
Richest man in the world, who only invests in US assets, in 2008 decides to go to Europe and start buying Euro-denominated assets.
The good news is, it means the richest man in the world thinks there are still productive investments to be made.
The bad news is, he doesn’t think they are in dollars.
When he appeared on a soap opera my wife watches……..that is a sign that all is not well.
He has been FAR overrated for several years.
This media ‘tour’ (can’t think of any better way to describe it) is just playing to people and fear. AS if to say “W.B. is looking into it so it HAS to be good”
How many times do pump and dumpers us that as an excuse??..I think he has looked at or “bought” all components of the market in the last two years. Just look at msg. boards.
Having his moment is going to cost the shareholders (both A & B) dearly for a long time to come.
Ciao
MS