Warren Buffett must be crazy
How could he be so optimistic? Doesn't the guy read the papers?
Warren Buffett must be an idiot, isn't he? I mean think about it. Think about what this clown is saying and doing. Think.
First, he likes investing in America. The stooge! Doesn't he realize we don't know how to make anything, and we have a dysfunctional government with a dysfunctional president? Doesn't he read the papers?
Second, he wants to buy something big right here, right now? Who is he -- Moe? Larry? Curly? Dumb? Dumber? Petey? I mean someone buy the old guy a copy of The Wall Street Journal. He’ll see that everything is overvalued and going lower. How can he want to buy anything when we know everything is hopelessly, radically overvalued? Like maybe 10%, 20%, 30% overvalued? You name it.
Plus, everything is going higher: costs, taxes, labor, materials, entitlements. Shouldn't he be selling and shorting? Who is he kidding? Does he think he's cheerleader-in-chief? Is that the game he's playing? He just likes the TV. Would walk a mile for a camera.
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Third, he's optimistic. Now that's a dodge. You know the old guy's got to have some sort of personal account where he's banging down the futures every day. He has to be, right? I mean he's way too rigorous to really be optimistic. Maybe he thinks Cairo is a city in Illinois. Maybe he thinks that Montgomery just took Rommel in Benghazi so everything's calm now.
Doesn't he know that $500 billion in municipal bonds are at risk? Or how we are broke and getting more broke, everyday? Or that oil is going to $200 and we've got the Saudi day of rage coming up on March 11? Octogenarians aren't on Facebook, I guess.
Fourth, he is happy with this railroad purchase. Yeah, sure. For now. He doesn't get that when the Chinese tighten up, nobody will want what Burlington ships. Locomotives? How about loco portfolio managers! That railroad is going to be worse for him than all of that housing nonsense he owns. Remember, this is the same dope that bought gypsum board at the high and motor coaches. Motor coaches for heaven's sake! And Chinese automakers! Doesn't he even realize what happens to cars when a government tightens?
Fifth, perhaps the issue here is that he hasn't really been around long enough to see anything like this market. He just doesn't comprehend what can really go wrong! He hasn't read the "Ahead of the Tape" column in the Journal and doesn't know that he will soon be victim of the most important Newtonian law of investing: What comes up must come down. Heck, and then there is the Journal's corollary -- it doesn't have to go up to go down!
Here's my conclusion. If he didn't maintain that faux-openness, then the Securities and Exchange Commission would have to be looking through those numbers to see how he can really generate those returns. I know that JPMorgan (JPM) is having trouble modeling him. I have seen the memos. The Wilpons have told me not to worry, that the bullpen is a bigger fret. Everyone's just making too much money to squeal, of course. Wait until Picard gets in there!
If you buy that, there’s only one investment strategy you will ever need: short Berkshire Hathaway (BRK.A).
At the time of publication, Cramer was long JPMorgan.
Follow Cramer’s trades for his Charitable Trust.
Wow...I have only posted once before. Cramer is completely disrespectful, and his use of words like "clown", "idiot', "dope" and "stooge" exemplify what is wrong with America. I dare him to visit Buffett and say these things to his face. He sounds like a teenager, or worse, a Charlie Sheen wannabe. For the record, I am done reading his articles.
A couple of last notes:
1) he doesn't get the railroad investment. When electric engines are pulling everything and the right of ways are populated with windmills and solar panels, maybe he'll get it. Take a look at how rich people with land are getting for leasing to windmills.
2) the rest of his hypothesis are the ranting of a man on drugs
3) his insinuation in the last paragraph that Buffett is running a Ponzi scheme is, literally, criminal libel. I am as close to a moron as you can get, and all I could read into his comment was that he thinks Buffett is pulling a Madoff. You better have proof, or you are going to lose a very big lawsuit. Really smart, publicly accusing someone of criminal conduct with no proof. As a holder of BRK I should sue him, but I bet right now Buffet is lining up the lawyers.
Pretty weird. Hard to tell whether he's slamming the idea of listening to Wall Street commentators (like him), since that's the people he is suggesting Buffet should be following, or whether he really means it. If he means this stuff, all I can say is that Buffet has a much better investing record than him or any other Wall Street commentator. Also, I'd trust his integrity a lot further than Cramer's.
Sounds like Cramer is jealous of Buffett!
And he obviously isn't nearly as smart!
What is Cramer's net worth as compared to Buffet's? Let's see, who should we listen to?
Cramer wants page views to sell advertising.
A great way to get someone to click on your article is to slam Warren Buffett in the headline.
How many times do you see "Buffett" in online headlines these days? Buffett should be collecting royalties for the use of his name.
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