While some call him the "Oracle of Omaha", I respectfully laugh in his face. A 62% drop in BRK's net hardly qualifies Buffet as an investing oracle. Oh yeah, he also managed to get hurt on the very derivative contracts he speaks so lowly of (calling them "financial weapons of mass destruction") . Investors, if you're listening, take a look at Leucadia National (NYSE:LUK) if you want a real holding company. Warren, if YOU'RE listening, please recognize that while the US provides a HISTORICALLY safe investment universe, the risk reward profile now favors a number of other international markets. By investing in the US, you sacrificing large performance gains, for a moderately safe economy. Like safe? Invest in Canada. The TSX 60 is off a mere 0.90 percent, while the annualized return since 1956 is 10.1% (Courtesy of Edward Jones).
Saturday, May 3, 2008
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