The Homa Files

Warren B. was waxing on NPR about investments and the economy.

I listened to the podcast, expecting to scream when he started whining about his taxes being too low.

He didn’t, so I didn’t.

Below are some punch lines and a link to the audio of the interview.
  

• I don’t get carried away with trends or get envious of how people are making money in something that I don’t understand. I sort of stick with what I understand. If I can’t understand it myself, I’m not going to do anything based on somebody else’s view.
• Some CEO’s have no ability to deal with the allocation of capital.
• I don’t want to hear what a lot of other people think. I just want a lot of facts.  I just want to look at the facts and see where they lead me.. I don’t care what other people think at all.
• People don’t need to trade. I mean if you decide to buy a farm, you buy it… based on what the farm’s going to do. You don’t get a quote on it every day.
• People — when they buy stocks and sell them a week later or a month later or have target prices for them and all that — it borders on gambling and sometimes it’s outright gambling. People love to gamble.
• No matter how rich a household is, if it spends way more than it takes in, it’s going to be unhappy and its going to have unhappy members. It’s not a complicated proposition,
• I think we run the risk always of substantial inflation. Not immediate, but it’s so much easier for legislators to print money to try and solve problems.
• At McDonald’s: get 2 Sausage McMuffins,  put the sausage parts together and call that a “Sausage McBuffett.”

Interview

Thanks to JNH for feeding the lead

* * * * *
Follow on Twitter @KenHoma           >> Latest Posts

This entry was posted on November 29, 2012 at 1:45 pm and is filed under Buffett, Warren, Investing, Investments, Management - General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.