Fortune

Thursday, 25th February 2010

Mr. Buffett on the Stock Market

Written by George Traganidas Topics: Articles, Stock Investing

Fortune
By Warren Buffett
November 22, 1999

The most celebrated of investors says stocks can’t possibly meet the public’s expectations. As for the Internet? He notes how few people got rich from two other transforming industries, auto and aviation.

Warren Buffett, chairman of Berkshire Hathaway, almost never talks publicly about the general level of stock prices–neither in his famed annual report nor at Berkshire’s thronged annual meetings nor in the rare speeches he gives. But in the past few months, on four occasions, Buffett did step up to that subject, laying out his opinions, in ways both analytical and creative, about the long-term future for stocks. FORTUNE’s Carol Loomis heard the last of those talks, given in September to a group of Buffett’s friends (of whom she is one), and also watched a videotape of the first speech, given in July at Allen & Co.’s Sun Valley, Idaho, bash for business leaders. From those extemporaneous talks (the first made with the Dow Jones industrial average at 11,194), Loomis distilled the following account of what Buffett said. Buffett reviewed it and weighed in with some clarifications.[…]

(0 comments)

Bookmark and Share


Search