Saturday, May 05, 2007

He's Up to Something Big

More info from the speech given by Warren Buffet at the annual Berkshire Hathaway shareholder's meeting held today (Saturday, Cinco de Mayo). Quite a telling speech Mr. Buffet gave today in front of 27,000 people at the Qwest center in Omaha, Ne. (that's an impressive showing, more than the NCAA Women's Volleyball Finals (one of the best sports to watch on a wide screen, high-def television) 17,209 held last year). Notable quotables include; The subprime mortgage crisis won't be "any huge anchor'' to the economy, he predicted, though lenders and borrowers will have "plenty of misery.'' "The prediction assumes unemployment doesn't increase "significantly'' and interest rates don't go up "dramatically,'' he said.
He's got something up his sleeve though, "We're as prepared as we've ever been to buy a big business outright.'' There's no deal that's too large for us to look at,'' said Whitney Tilson, a managing partner at New York-based T2 Partners LLC, which owns $30 million in Berkshire shares and options. "Let's say a $40 billion acquisition came along, he might need to raise $10 billion of additional cash.'' ...Interesting...

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