Buffet in his annual letter: "We're certain, for example, that the economy will be in shambles throughout 2009 -- and, for that matter, probably well beyond -- but that conclusion does not tell us whether the stock market will rise or fall"
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"Moreover, major industries have become dependent on federal assistance, and they will be followed by cities and states bearing mind-boggling requests. Weaning these entities from the public teat will be a political challenge. They won't leave willingly."
However, said Buffett, the U.S. government did need to take "strong and immediate action" to avoid a "total breakdown" of the economy.
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Stupid question: When they say the Dow is 6800 or the NASDAQ is 1320, what does that actually represent? Where does that number actually come from?
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"With a coach and a player, sometimes there's just so much respect there that it's boils over"
-Taylor Hall
Last edited by Phanuthier; 03-02-2009 at 03:19 PM.
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