A Case of Cult Envy

Today, we examine two cults — one with a charismatic leader and millions of disciples; and one with no leader whatsoever, but billions of disciples. Neither cult engages in fringy activities like polygamy, sacrificing goats or building armed compounds in the desert. Nevertheless, both cults attract a very fanatical following.

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Warren Buffett: Hypocrite Extraordinaire

Life isn’t fair. Some extremely smart people never make much money. Similarly, some rather stupid people seem to fall into it and make fortunes. Go figure. Then, there is Warren Buffett.

Warren is fond of playing the role of the “folksy” type who still lives in his modest house in nowhere Omaha and owns an old car he’s had for years. Just plain folk, he’d have you believe. Well, DON’T believe it! This is the same Buffett who constantly travels by private jet; is chauffeured by limousines wherever he goes; regularly stays at 5-star hotels; invests in deals not available to any other investors. Yet, he’d have you believe he’s just like you. Sure!

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Warren Buffett Scorns Gold. Bad Move!

Warren Buffett doesn’t like gold. In this year’s annual letter to Berkshire Hathaway shareholders, Warren Buffett scorned gold as an asset that is “forever unproductive.”

And he’s right about that…

But investors don’t buy gold because they hope it will produce something. They buy gold because they know that no one can produce it. Therefore, the more that folks distrust their national currency, the more they put their trust in the ultimate currency: gold.

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Bashing Buffett…Once Again With Feeling

“Right now bonds should come with a warning label,” opines Warren Buffett in this year’s letter to Berkshire Hathaway shareholders. That seems like a reasonable idea, but why stop there? Why not slap a warning label on each one of Buffett’s public pronouncements as well?

The warning would go something like this: This pronouncement may or may not express my honest opinions, but it will almost certainly advance a hidden political agenda that enables me to gain access to preferential treatment from elected officials and various agencies of the federal government.

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Why Buffett and Gartman are Wrong About Gold

Warren Buffett doesn’t like gold. Neither does Dennis Gartman. That settles it for us; gold must be a table-pounding buy.

In this year’s annual letter to Berkshire Hathaway shareholders, Warren Buffett scorned gold as an asset that is “forever unproductive.”

“[Gold] will never produce anything,” he wrote. “Gold has two significant shortcomings, being neither of much use nor procreative.”

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How Warren Buffett Looks at Stocks vs. Gold Investing

Where we part company with Warren Buffet…

Here’s the Sage of Omaha, explaining, in Fortune Magazine, why bonds are dangerous:

Investments that are denominated in a given currency include money-market funds, bonds, mortgages, bank deposits, and other instruments. Most of these currency-based investments are thought of as “safe.” In truth they are among the most dangerous of assets. Their beta may be zero, but their risk is huge.

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Buffett Loves Harold, Adds $10.7 billion in IBM Shares

Warren Buffett appeared on CNBC this morning with something of a word puzzle for Joe Kernan and the gang.

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Buffett Buys Big: Guru Goes Long $20 Billion in the Last Quarter

In 45 years of marriage, Donald and Mildred Othmer built a quiet and unpretentious life. Like so many of their day they practically blended in with the woodwork.

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Pea Shooters, Elephants and Government “Solutions”

“Do something” is fast-becoming the recurring whine of most financial market commentary. In fact, “Do something” is fast-becoming the recurring whine of almost all socio-economic expression in the Western World.

From the rioters in Greece, to the Occupiers on Wall Street, to the long-term unemployed of America’s big cities, to the underwater homeowners of America’s small towns to the heavily indebted college grads nationwide; the desperate citizens of the Western World are turning to their governments and shouting, “Do something!”

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