From a Yahoo article today:
Investors have become markedly more nervous in recent weeks, worried that the stock market has risen too far, too fast. That many of Mr. Buffett’s picks remain around the prices he paid for them certainly suggests that some value remains. It’s also an intriguing contrarian sign: Since early March, the biggest gainers on world stock markets have been riskier stocks, from Sprint to Citigroup to Las Vegas Sands. Mr. Buffett tends to go for more stable blue chips with strong cash flow. Many such stocks have been left on the sidelines in what one wag has called “the dash for trash.” Buying Warren Buffett stocks at Warren Buffett prices, or less, certainly doesn’t guarantee you will make money. But it surely provides an additional level of comfort for anyone willing to risk their capital. The worst that can happen is that you will lose money in good company.
Isn’t that last line comforting? Below the Oracle says the economy is in “shambles”. He sees no “green shoots” yet. Asked how the government is doing in trying to get the economy on track:
“You can’t produce a baby in one month by getting nine women pregnant.”