Warren buffet loses 13.6 billion & still smiling ! (loan, calculate, accounting)

[jetway777]

Warren Buffet Loses 13.6 Billiion in this Economic Meltdown and is still smiling.
It must be nice to be filthy rich???

Take Heart: Even Buffett's Losing Money in Stocks - Markets * US * News * Story - CNBC.com (http://www.cnbc.com/id/27516060 - broken link)

[70Ford]

Warren Buffet is a really decent human being.

BBC NEWS | Business | Buffett donates $37bn to charity

[davidt1]

Originally Posted by jetway777

Warren Buffet Loses 13.6 Billiion in this Economic Meltdown and is still smiling.
It must be nice to be filthy rich???

Take Heart: Even Buffett's Losing Money in Stocks - Markets * US * News * Story - CNBC.com (http://www.cnbc.com/id/27516060 - broken link)

The difference between the big dogs and your average 401k holders is that these guys got their shares for little or nothing. While their losses seem huge, the out-of-pocket loss is small. In other words, if you paid $100 for a share of stock and goes down to $50, you have lost 50%. On the other hand, if you got the stock for $10 and it went up to $100 then down $50, you have actually made money based on the initial cost. Often, these stories don't take into account how much the stocks were paid for.

[cpg35223]

Originally Posted by jetway777

Warren Buffet Loses 13.6 Billiion in this Economic Meltdown and is still smiling.
It must be nice to be filthy rich???

Take Heart: Even Buffett's Losing Money in Stocks - Markets * US * News * Story - CNBC.com (http://www.cnbc.com/id/27516060 - broken link)

Pshaw. Even if his portfolio lost 98% of his value, he'd still be a billionaire. Not exactly a realistic post if you ask me.

[RjRobb2]

If he hasnt sold them then he hasnt lost anything. You dont have a gain or less until you sell. Until then it is unrealized.

[davidt1]

Yeah, right. Try explaining that to a bank when you apply for a loan.

Loan agent: Sir, I had to determine how much your assets are worth. I calculated all your stocks and you are worth $2M.

Noloss Investor: No, that's not true. I am worth $6M. Look at my statement from last year. See where it says $6M.

Loan agent: Yes, but that was last year. You have lost $4M since.

Noloss investor: No, you don't understand. I haven't lost anything because I haven't sold. I am still worth $6M.

Loan agent:

[jimmyP]

Originally Posted by davidt1

Yeah, right. Try explaining that to a bank when you apply for a loan.

Loan agent: Sir, I had to determine how much your assets are worth. I calculated all your stocks and you are worth $2M.

Noloss Investor: No, that's not true. I am worth $6M. Look at my statement from last year. See where it says $6M.

Loan agent: Yes, but that was last year. You have lost $4M since.

Noloss investor: No, you don't understand. I haven't lost anything because I haven't sold. I am still worth $6M.

Loan agent:

It's called "mark to fantasy" accounting

[floridasandy]

Originally Posted by 70Ford

Warren Buffet is a really decent human being.

BBC NEWS | Business | Buffett donates $37bn to charity

his donation was in berkshire stock to a charitable corporation (bill gates foundation) where he is a trustee. even warren knows he cannot live forever. warren is clever if nothing else....

[killer2021]

What is even more funny is his 80% COLLAPSE in net income!!!!!!!!!!!!! hahahahahahahaha!

[xavier132487]

Berkshire Hathaway is down 87% in revenue this year. Ouch.