03-02-2009, 04:01 PM
<b>Buffett on his mistakes & likely successor Ajit Jain</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->The Oracle, as Buffett is known, noted that a major mistake was buying <b>ConocoPhillips shares when oil and gas prices were near their peak</b>.
"I, in no way anticipated, the dramatic fall in energy prices that occurred in the last half of the year. . . Even if prices should rise, moreover, the terrible timing of my purchase has cost Berkshire several billion dollars," he said.<!--QuoteEnd--><!--QuoteEEnd-->
I just can't believe how these people can even think that any economy can survive gas price above $60, it is not sustainable. Above $100 is a killer of world. $146 had started Global depression.
Buffet 's another suggestion tax rich , another dumb idea.
Even now OPEC is trying to be jackass and looking for price hike and Obama had decided not to drill or build Nuclear Plants or refineries in US. Even slight sign of economy recovery will be countered by increase oil price and that will stall recovery engine. Pumping money and towing environmentalist will prolong this recession which is now entering into depression.
"I, in no way anticipated, the dramatic fall in energy prices that occurred in the last half of the year. . . Even if prices should rise, moreover, the terrible timing of my purchase has cost Berkshire several billion dollars," he said.<!--QuoteEnd--><!--QuoteEEnd-->
I just can't believe how these people can even think that any economy can survive gas price above $60, it is not sustainable. Above $100 is a killer of world. $146 had started Global depression.
Buffet 's another suggestion tax rich , another dumb idea.
Even now OPEC is trying to be jackass and looking for price hike and Obama had decided not to drill or build Nuclear Plants or refineries in US. Even slight sign of economy recovery will be countered by increase oil price and that will stall recovery engine. Pumping money and towing environmentalist will prolong this recession which is now entering into depression.