Arnold hires Warren Buffet as his chief financial advisor

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-- Arnold hires Warren Buffet as his chief financial advisor

Posted by Durafei on Aug-14-2003 14:28:

Arnold hires Warren Buffet as his chief financial advisor

Well, Arnold has hired Warren Buffet(for those who don't know he's 2nd richest person in the world, and is considered to be the best investor ever).. The fact that Buffet agreed to work for Arnold suggests that he trusts him and trust of a man like Buffet means a lot..

A very smart move by Mr. Schwarzenegger I think..

your opinions ?

Posted by daffodil on Aug-14-2003 15:54:

Brilliant move by Arnold. I just realized I have no idea how to spell his last name.

Buffet is respected by anyone who knows anything about investing. He has more money than he could possibly spend, so it's not as if he could be paid to do something he doesn't believe in. Ditto for the prestige issue.

If voting for Arnold would put Buffet in charge of California's economy, I would do it. Buffet is not a politician and can make money from nothing. If California had stock, I would buy it because with Buffet financially in charge it could be the next Berkshire Hathaway (ok, I deserve to be flamed for that comment).

Posted by TranceGiant on Aug-14-2003 16:55:

is he some kind of George Soros?

Posted by rizo on Aug-14-2003 18:12:

this isnt a big deal, anyone can get economic advisors. funny thing is buffet stays away from hi-tech stocks, guess this means another hit to the silicon valley if arnold is elected

quote:
Also, Bernie was on MSNBC today and was given a juicy tidbit about the candidacy of Arnold. He was basically told that it's Arnold's strategy to campaign as long as he can not on the issues, but on his name. He won't divulge a platform for as long as possible, figuring actually politics can only hurt, not help him.

Posted by rupert on Aug-15-2003 05:30:

quote:
is he some kind of George Soros?

George Soros was a currency trader, he made his fortune like many on Wall Street speculating on the currency markets.

Warren Buffett as mentioned is the worlds 2nd richest man who is the boss of an investment company called Berkshire Hathaway.

It is a very large company which buys sizable stock in companies such as Gillette and Coke but also buys out cash strapped companies outright for very cheap prices.

Berkshire Hathaway also owns General Re a very large insurance company.

He is a capitalist from the old school who learnt his trade under a very famous stockbroker named Benjamin Graham who wrote the standard text on stock buying called "Security Analysis" which applied a scientific approach to determining the value of companies.

I doubt that even the master could sort out Californias problems without a great deal of political pain because he will have to deeply cut services and steeply increase taxes.