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> And then this article where he complains about how that very bailout is hurting one of his businesses?? As someone has already pointed out, if you read the p
by Xichekolas 18y ago
> And then this article where he complains about how that very bailout is hurting one of his businesses??
As someone has already pointed out, if you read the paragraph in the context of the letter, he wasn't so much 'complaining' as he was 'explaining a bad result for Clayton Homes'. And he is right, it's hard to compete with the government when it comes to borrowing costs. He is also right that it'll be hard to wean companies off this support. He states very clearly, however, that he still thinks the bailouts were both necessarily and the best course of action.
> Who is he trying to help?
Himself of course. Part of Buffett's appeal is that he usually doesn't do it by playing dirty.
> BRK.A is worth less today than it was in 1998.
No, it's priced today at what it was priced in 1998. Per share book value (value off assets per share) is still 89% higher than it was in 1998. In fact, price-to-book-value is less than 1 at the moment, meaning every dollar you pay for a share actually gets you slightly more than a dollar in assets.