Buffett's motivations questioned?

Last month, as a reader service, I published one of the most important financial statements made in recent years, but it wasn’t made by the Treasury, the Feds, or even the Banks (!)  …

… it was made by Warren Buffett – to give the average US investor confidence by sharing his personal financial strategies for today’s ‘crisis’ market.

Naturally, there were cynics: isn’t it amazing that people who usually have nothing (like one particular financial journalist) like nothing better than to criticize those who have everything (like one particular multi-billionaire investor)?

It’s the same counter-intuitive, yet all-too-human, failing that sees us buy when the market is high and panic/sell when it is low. Sad … but, true.

Here are some comments by Marketwatch.com, where “David Weidner penned an article about Warren Buffett” that Motley Fool thinks is “equal parts sad and stupid”; Motley Fool says:

Weidner responded to Buffett’s article by making the following points/accusations:

  • That because Buffett can get better terms than you, his advice does not apply to you.
  • That Buffett wrote the Times article to talk up shares because his recent investments in General Electric (NYSE: GE) and Goldman Sachs (NYSE: GS) preferred shares were underwater, and he needed to “stir up some buying” to get their prices back up.
  • That the stocks Buffett’s buying for his personal account are irrelevant, since he made his fame with his gains at Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B).
  • I am not going to report here all the reasons why this is short-sighted bunkum, when Motley Fool have already done such a good job for me 🙂

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