What is not to understand?  The rich get richer!!  Please, do not think for one instant that Mr. Buffet will do anything outside of play you for your money.  

Buffet's been there before. In the mid-70s Berkshire Hathaway fell 50% from $80 to $40 per share. Many of his partners bailed out feeling he had nothing more to offer them. History shows they made a huge mistake. I wouldn't count him out yet.

I only deal with one of his companies but it is one of the worst managed companies I have ever seen.  Abuse of manpower, poor marketing, you name it.  The executive team sit in an ivory tower and are completely out of touch with the market, the customers and their business.  I am not impressed.  Hopefully, for Mr. Buffett this is an isolated incident.

If  Buffet believes so much in the stock market, why didn't he buy shares of common stock instead of buying special preferred shares?! He is trying to convince everyone the market is alright, and if we believe it, it becomes a self fulfilled prophecy. Thats when he would cash in when all the dumb money come back into the market.

Buy & hold for the long term. 30 years plus!  I have seen my investments go up and go down.  It is only paper until you sell, which I never plan to do.  Don't panic. Do what you do to make money now.

Just get ready to "run, duck and cover".  That is a quote from a black & white movie  that I watched several times during the 50's about the threat of an atomic bomb from Russia.  

This time you should be prepared to "run, duck & cover" from our OWN government.  They are going to be gunning for US!!!  With the top 50% of the wage earning people paying 97.3% of the taxes, we are facing the dominance of the majority of the "RECEIVING" voters  versus the minority of the "EARNERS".

Fortunately, I am self employed, and can chose how and when I receive my compensation.  I would recommend that, anyone receiving a pay check, become a contractor and take care of your business and build a reprutation.  That way you can control your own destiny and not be dependent upon someone else, or some company, for your suvival and success.

Who is Warren Buffet?  Is he someone special?

I think this is just a case of liking to see somebody fail.  How many people

got pleasure when Donald Trump had financial problems and was basically broke?

Same with Warren Buffet.    Bash all you want.  It is easy to sit back on the couch

and criticize a dropped ball or a quarterback not seeing a wide open receiver.

Don't derive pleasure from failure.   I think if you started investing with Buffet

for the first time just prior to the recent market downturn you would look like a

genius years from now.    Get off the couch stop g;oating in others TEMPORARY

FAILURES and LEARN from these guys.  I wish some of the most critical would

post their current financial positons... you are not as smart as you think!

When you have a $ billion and lose half you want to cry.

When you have $ thousand and lose half and your job you want to die.

We should not be envious of Mr.  Buffett's accomplishments, regarding his investment  successes. Too many are quick to shoot the messenger. I took his advise and began investing in early October, which is something that I have not done in the past. I'm sixty-three (63) years of age and have so far have invested $10,000 in a number of different stocks. It hasn't  been easy to come up with the money to invest. But common sense tells me that we will not fail as a nation. As of the close of the business day yesterday, I'm only down approximately $300. In stead of criticizing Mr. Buffett for the advice that he offered everyone, take it and hopefully benefit from it in the future. The way that I see it is that if you invest in a number of different types of companies, the ones that survive should in the long run offset the ones that fail. Simply purchase fifty to a hundred shares in the companies that you can afford to invest in and see where the stocks go from there. I've been using Charles Schwab for investing purposes. You can do the same or use another company that you can do it with over the internet. Those that have achieved any measure of success in their lives haven't done so by sitting around and criticizing others for being willing to give their advise on how you too might be able to benefit from the markets decline. But remember before you start investing, if you have an addictive personality you can get in trouble because it is for the most part "gambling". The only difference is that this form of gambling is legal. Good luck.      

The members of Phil's Gang cleaned his clock. You gotta know how to short in bear markets.