Buffett's Letter to Uncle Sam Disguises Real Reasons for Gratitude

Madhusudan Rao submits:

It comes as no surprise to me that Warren Buffett sent a Thank You note on November 16th to Uncle Sam. Unfortunately, his “Thank You” note seems to indicate that Uncle Sam actually bailed out the American Economy and not Warren Buffett’s investments. Mr. Buffett suggests that a lack of intervention would have brought the whole US Economy to a standstill. Sure, a lot of companies would have suffered and many Americans would have lost jobs. But the Berkshire Hathaway (BRK.A) shareholders would have lost a lot too. And Buffett, rightly so, has acted in the best interests of the shareholders in thanking Uncle Sam for this benevolence, although he has disguised the real reasons. It is not just Berkshire Hathaway as a holding company that would have suffered, It is also the derivative contracts that would have caused a lot of losses. And these l

By admin posted about 1 year ago

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