How the Mighty Have Fallen: Buffett, Other Legends Feel Bear Market Bite

we all believed those guys were smarter than us, They just knew how to borrow more than us. We are the dumb ones who let them leverage and prop up thier wealth making us think thier smart but at the end the only differece is that they knew how to cheat better.

It just goes to show nobody's safe and market perception places a bigger role in this than we think. I work for a Fortune 500 company and our stock is down almost 80% this year based on perception and that alone. We have over $15 billion in capital reserves and nobody will listen to our analysist. They say you need to maintain ratings with $3.5-$4 billion and we have $10 billion in cash! I guess every company gets grouped togther with all the bad seeds.

just watch!!!!!!!!!! im speechless!

bless his heart.

I don't feel so bad losing 50K in my IRA then. Whew, that's a relief. :-)

I was shocked to see Brk-b drop so much in the past week or so. I was actually thinking of buying some when it was around 3500, now it is 2700 and will stay away from it. How things change in a week in such a bloody market.

You PIGs seem to be having a good time gloating over the sufferings. Average americans are sufferng greatly and you boys rant on.

Buffet's GE at $5.00 will be a good deal.

Michael M, You're kidding yourself if you think your company is safe. Orders will fall dramatically. Companies can burn through cash like nothing.

Come on Kirk Kerkorkian! Pleeeeese buy my Ford shares!!!!

Oh jeez....like these guys are feeling the pinch that the rest of us are...just because they lost millions or billions more than us

What kind of exposure does your company have? You're just looking at one side of the company, which is its cash position and reserves....and reserves are just that....cash for times like this. How much debt does your company have? There are many questions....please give me the ticker symbol.

Nonsense - they just didn't plan and rested on their laurels; what I and my assoicates did was liquidate almost all equity positions by the end of August; since then we've traded bonds and gone short most futures (actually started with the grains back in May) - I called the dollar bottom with the Bear Stearns action in March of this year, and we never looked back. Now the stupid Democrats want to punish people like us who knew what to do - but our money is leaving the country, so sorry. Sayonara america....

Multi-billionaires can afford to lose money & they can deduct their losses.Average idiots who wanna be like them lose their life savings.Don't try to think like a billionaire when you can't afford losses like them.They can afford to lose money,I CAN"T!!!

What a load of hovno - trying to justify that all the shills got hosed by being FAR too early to call the bottom. My site's portfolios went to fully hedged on Feb 28th (with the Australian market at 5880... it's now 3300 and still falling). Not 'everyone' gets worked... only those who are too stupid to see the writing on the wall and act appropriately. Buffet bought a slug of GS... so he's done at least one VERY stupid thing in his life... GS is a hollow log and is a good candidate for the graveyard.

you won't see any of those guys on soup lines

Buffet is not loosing any money on his investments in GE and GS. He lent them money at 10% interest and that is a hefty interest considering what banks or T-bills pay. I am sure his lien on GE and GS has a higher level of collateral. GE and GS warrants to buy shares is optional at his discretion in the next 5 years. I don't understand why the analysts keep on saying he is loosing money on these 2 deals. He is making 10% interest and sitting pretty. His other investments may be going down.

Aaron Task you are such a pig. Bringing some tecnical analyst on the program to talk the market lower. I hope Yahoo soon files bankruptcy and gets rid of you.

OMG!! Back when Warren Buffet bought those preferred shares a month and a little ago, he said that his investments might not do well in 6 months or a year, but in 10 years, he said that it would be a great buy. You morons need to come back in 10 years and see if he was wrong.

You think this is a fall... wait for the Fall of Congress... They are demanding to see a plan for the auto industry to save themselfs. Hell I would like to See Congresss plan to restore lending, fix forclosures, or get out of iraq..... Plan show me the Gov.s Plan...