UPDATE: Here is a link to the story from September 30, 1999Buffett knows a bargain when he sees one. What are you doing with your extra cash? -ski P.S. Did I mention that the bailout/failout may now be the lessor of two evils? How sad. ---- Jeff 'SKI' Kinsey, Jonah firstname.lastname@example.org Dover, OH | Hilton Head Island, SC | Las Vegas, NV Cell: +1 330.432.3533 ©2008 Throughput.us LLC. All rights reserved.
Thursday, October 02, 2008
... That you don't... A lot, perhaps. Why invest in GE when as most analysts suggest, Jeff Immelt has done little else at the helm, except run it into the ground? I would suggest Warren Buffett knows something that a friend and client tried to teach me many years ago: "Cash is king." The more chaotic the business climate, the more important your cash reserves. In order to weather the storms like the financial mess President Bill Clinton (et al) created in 1999 when he ordered Fannie and Freddie to make home loans to those unable to repay them... which as I understand was reinforced by the Democratic Senate in 2005 when the minority Republicans could not get enough votes to attack such a hair-brained scheme. But I digress...
at 10:35 AM