WEB:The Oracle of Omaha- Warren Buffett

Top 32. Jun 8, 1999 4:00 PM

» BillR_5 - Michael

If everyone would just WORK there would be no need for welfare.

If everyone working would invest 10% of their income there would be no for social security.

-- posted by BillR_5

Top 33. Jun 8, 1999 5:19 PM

» KirkL - To add Bill

IF the 15% going to social (in)security went into an index fund, then we would not have to invest 10% to have a secure retirement!

last yr I paid $4200. Figure HWP paid another $4200 for a total of $8400 to SS.

Lets assume 10% and a rotten, loaded mutual fund return of 8.5% annualized with 40 yrs of payments...

$3,717,777 @ 10% per yr
$2,483,733 @ 8.5% per yr

Figure you could annuatize that for over 30 yrs after putting it into a GNMA fund..... Check my math: 30 yrs, 6%, zero balance the $2,483,733 gives you an annual income of roughly $180,440!

Now look at Social INsecurity: retire in today's dollars and I get maybe $1500 a month or $18,000. Annuatize this over the same 30 yrs @ 6.0% and you get a net present value of $115,624

We are getting robbed to fund the general overspending in congress!

The government wants us to be stupid and not get a good education in math so you can't see how they are robbing us blind!

-- posted by KirkL

Top 34. Jun 9, 1999 9:36 AM

» BillR_5 - Education

Well, they're doing a great job of NOT educating us in math. And I thought they were incompetent in EVERYTHING they did.

-- posted by BillR_5

Top 35. Jun 9, 1999 11:02 AM

» Thruhiker - Michael

You asked about Cancun.

A few years ago I lived in the woods for 5 months. I drank out of springs, creeks, rivers, ponds, and lakes during that time with no ill effects.

A few years ago I also spent a week in Cancun. I had one bad day...lets just say that next time I'm sticking to bottled water. And I'm bringing my backpacking water filter with me.

I also learned that windsurfing is a whole lot harder than it looks.

-- posted by Thruhiker

Top 36. Jun 11, 1999 10:02 AM

» MichaelC_AU - Favorite Stock Market Guru

Favorite Stock Market Guru, Warren Buffett, of course. While the current Berkshire Hathaway, with its huge profile, might not continue to bring in 26% yearly, he is definitely the best.

-- posted by MichaelC_AU

http://quote.yahoo.com/q?s=BRKa&d=5ys

Top 37. Jun 11, 1999 10:36 AM

» KirkL - BRKa

Hard to beat this performance from the Sage of Omaha, Warren Buffett!

not sure how much is premium to the market vs picking great stocks, but impressive bottom line to investors which is what counts!

-- posted by KirkL

http://www.berkshirehathaway.com/qtrly/1...

Top 38. Jun 11, 1999 10:58 AM

» litab16 - It's a lot more than picking great stocks

Kirk,

For Warren Buffett it's a lot more than picking great stocks. He becomes a silent partner and is the king of long-term investing.

Here's the 1st Q99 report:

-- posted by litab16

Top 39. Jun 11, 1999 12:07 PM

» RandeS - Isn't it ironic how Berkshire Hathaway is, in the opinion of ma

Isn't it ironic how Berkshire Hathaway is, in the opinion of many, an extremely OVERvalued stock based on any and all valuation standards. It's like buying a closed-end fund at a huge premium. Why the premium? Buffett's management, of course. How old is he, by the way, and what happens to the stock if he has a severe medical problem or dies?

-- posted by RandeS

Top 40. Jun 11, 1999 12:33 PM

» litab16 - Brief Buffett Bio

Rande,

Warren Buffett is 68. Here's his brief bio from Forbes. I don't know enough about his management style, but suspect he's grooming someone. He seems too good at looking at long term issues to be ignoring that one.

-- posted by litab16