I am a big fan of the Fast Money show on CNBC. Those guys have only two ironclad rules:
- Have a serious take on the market
- Don't state the obvious
When I read that headline grabbing statement by Warren Buffett I had just four thoughts:
- I wish you had said that on Fast Money. They would have beaten the hell out of you for stating the obvious.
- Buffett must be trying to push the market to the bottom so he can go bottom fishing. Everybody wants to catch the bottom of this market.
- If Joe Schmoe says the economy fell of a cliff, nobody will report a thing, and they will yell at him for stating the obvious. Only the world's richest man can get away with this and make it headline grabbing news.
- Why don't you tell us what you plan to do at the bottom--in explicit detail--Warren?