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One counter to that is Buffett doesn't try to time the market, he finds stable, productive businesses and buys in. Housing might collapse but in 10-15 years he
by lubujackson 9y ago
One counter to that is Buffett doesn't try to time the market, he finds stable, productive businesses and buys in. Housing might collapse but in 10-15 years he will be profitable. Most homeowners aren't looking at things with the same perspective.
- gsylvie 9y agoYeah, and frankly the deal doesn't really look that reassuring to me. HCG had already negotiated a 9.5% loan on the $2 billion CDN (around $1.5 billion USD). Buffett is letting them refinance that loan down to 9% and he's buying some stock at a 30% discount. But the general market will not look that closely at the details, and will just be reassured by the Buffett brand name.