Quote:
Originally Posted by Smooth Operator
RP, you sound like a smart guy and your short-term take on the market is as valid as anyone else's … but let me ask you this … do you think a guy like Buffett would've gone ahead and spent tens of billions of dollars to purchase one of the largest railroad companies in the country … as he did last Feb … if he thought the long-term outlook for the U.S. economy wasn't all that great?
And dellinger … quick question … do you have any experience mowing lawns?  |
Buffett is obviously an extremely bright guy, to say the least. But there are differing opinions about what is going to happen over the next several years. There are several really smart people like Dent and even Krugman (a liberal), that think we are going to go into a depression. There are other really smart people that think things will be fine. We'll see what happens.
The guy I have the most confidence in is Dent when it comes to long-term calls. He can be off by as much as a year or so when it comes to timing, but his long term calls based on deomographics are usually right. I've never seen him as confident as he is right now that the market is going to crash. And you have to remember that he was as big of a bull as anyone over the last 20 years. He's not one of these guys that's usually bearish.