Buffet confirms that the economy is in shambles.Pretty hell!. Did it take so much time for Buffet to realise the fact. Buffet, the investing wizard, tried to fish in troubled waters. Fish ,did he, by buying out shares in falling banks with assured return of 10%.Plug ins and loopholes in the sliding market , posed a deal for him. He made merry money while others witnessed a desperate tumble.
I,for one ,admire Buffet for his tenacity and acumen. But ,I got the spokes ,when he entered into an investing spree amidst dismal failure.Where did he see the light? How was he able to track down the portfolio?was he superhuman?Thank goodness, many did not follow his lead. If done, we would have flushed tonnes of money down the lane.
Now , Buffet has learnt the lesson. He thought , he could modify the economy ,by applying not relevant techniques, not so close macro and micro economic theories, and not radical thinking. His contention was out of box thought. But the devil proved otherwise. No one is above me,is the Economy”s challenge. True , no amount of bail out , no offerings of stimulus package, no task of interest rate cuts, no successful bid of containing crude oil price, could revive the economy.All these negations have added fuel to the fire.
The world has become an anvil unto the beating of sorrow. There is lot of unemployment, lot of misery in the share and stock markets, lot of loss in industrial sector, lot of wholesale wipe out of funds in banks, and financial institutions.
Buffet, I wish to say “you are no exception”.
Meenas Poems 