Warren is not that special. He is flawed like you and me.
He has the best lawyers, bankers and Fed officals money can buy. He does not need Facebook. He has a sick rolodex of FIVE. GREAT rolodex and deep pockets always win.
Warren did not nab any $LULU at $4 or $bidu at $100 or Google at $300. He chose Ballmer and Gates. Big woop. Old fart with no balls or vision anymore.
He bought Goldman at $115 during the credit crisis. It took serious balls I guess, but maybe inside information or just luck to not implode because the stock went to $50 and could have easily been gone. I can get that 50 percent drawdown with any shmuck at Merrill.
He was not backing up the truck in late 2008 on startups, he was talking his book, one that still almost imploded as his financial stocks fell another 30 percent in the first quarter of 2009 (after his New York Times piece on why you should buy stocks). That’s talking your book to a big audience that likely barfed up the ETF’s they bought after that bought advertorial just three months and 30 percent before.
Today Michael Steinhardt calmly asked, why do we put Buffett on such a high pedastal. The blogs say he ripped into Warren Buffett. I don’t see it.
I don’t trust Warren Buffett, but I don’t trust anyone with my money. They just can’t possibly care enough about it as you do. I don’t know much, but I know this. I want to be the one pissing away my real money.