> Warren Buffett Blog: September 2017

Monday, September 25, 2017

DOW to 1 Million | Dont short America


At a recent party for Forbes magazine's Warren Buffett said the Dow Jones Industrial Average will be over 1 million in 100 years. It is currently around 22,296 currently. He pointed out the Dow Jones was at 81 during the 1980's. 

"Whenever I hear people talk pessimistically about this country, I think they're out of their mind. Being short America has been a loser's game. I predict to you it will continue to be a loser's game. It has been 241 years since Thomas Jefferson wrote the Declaration of Independence. Being short America has been a loser's game. I predict to you it will continue to be a loser's game."

Monday, September 18, 2017

Investing VS Speculating

The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money.

But a pin lies in wait for every bubble. 

And when the two eventually meet, a new wave of investors learns some very old lessons: First, many in Wall Street - a community in which quality control is not prized - will sell investors anything they will buy. Second, speculation is most dangerous when it looks easiest.

Monday, September 11, 2017

Buffett on Trump, Apple and Insurance Business

I'm not in the business of attacking any president, nor do I think I should be.

Forty-five presidents of the United States and I lived under a third of them. I bought stocks under 14 of the 15. The first one was Hoover. I was only 2 when he left so I hadn't gotten active at that point. But Roosevelt was next. And I bought stocks under him, even though my dad thought it was the end of the world when he got elected.

Thursday, September 7, 2017

Warren Buffett not optimistic on Bitcoin


Stay away from it [Bitcoin]. It's a mirage basically. It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money too. Are checks worth a whole lot of money? Just because they can transmit money?

I hope bitcoin becomes a better way to do it. But you can replicate it a bunch of different ways. The idea that it [bitcoin] has some huge intrinsic value is just a joke in my view.