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Old 11-03-2008, 10:04 AM
 
Location: SoCal
316 posts, read 655,084 times
Reputation: 69

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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)
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Old 11-03-2008, 10:08 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,523,957 times
Reputation: 6378
Warren Buffet is a really decent human being.

BBC NEWS | Business | Buffett donates $37bn to charity
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Old 11-03-2008, 11:12 AM
 
5,340 posts, read 8,877,096 times
Reputation: 7661
Quote:
Originally Posted by jetway777 View Post
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.
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Old 11-03-2008, 02:22 PM
 
28,900 posts, read 49,201,811 times
Reputation: 46323
Quote:
Originally Posted by jetway777 View Post
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.
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Old 11-03-2008, 03:24 PM
 
Location: Kansas City, MO
5,763 posts, read 10,152,163 times
Reputation: 2821
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.
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Old 11-03-2008, 04:48 PM
 
5,340 posts, read 8,877,096 times
Reputation: 7661
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:

Last edited by davidt1; 11-03-2008 at 05:11 PM..
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Old 11-08-2008, 03:27 AM
 
706 posts, read 1,206,314 times
Reputation: 438
Quote:
Originally Posted by davidt1 View Post
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
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Old 11-08-2008, 05:38 AM
 
12,869 posts, read 13,704,707 times
Reputation: 4453
Quote:
Originally Posted by 70Ford View Post
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....
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Old 11-08-2008, 05:42 AM
 
3,853 posts, read 12,051,028 times
Reputation: 2522
What is even more funny is his 80% COLLAPSE in net income!!!!!!!!!!!!! hahahahahahahaha!
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Old 11-09-2008, 01:59 AM
 
1,020 posts, read 2,341,261 times
Reputation: 547
Berkshire Hathaway is down 87% in revenue this year. Ouch.
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