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Hedge Fund Managers on the Market

People who, unlike economists, actually make their living betting on markets, are not optimistic: One said he was sickened by the crisis, while another admitted shock and embarrassment at the severity of the market slump and the losses his firm suffered. A third warned clients to be careful about buying anything and said it will be years before investors should buy stocks. Fortunately, people are beginning to doubt Warren Buffett, who recklessly told poor people to start investing in the market.  On Buffett: "Mr. Buffett has enough money to be able to have his holdings drop 50% and still fly in his jets and live the way in which he has become accustomed," Bass wrote. "Do you have enough capital to take what you have left, cut it in half, and continue to live the way you have for the past few years? I don't...continue to full post

Full post as published by Crime & Federalism on November 09, 2008 (boomark / email).