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Investing In The Buff: Warren Endorses GE

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General Electric announced some abysmal results last week but it's okay because once again, Warren Buffett to the rescue! GE is selling $3 billion of perpetual preferred stock* to Buff's Berkshire Hathaway, in a transaction that is "almost identical to the Goldman deal," and was proposed to the Oracle of O by his main man at GS, Byron Trott. Buffett put his thick stamp of approval on the company in a press release today, saying, "GE is the symbol of American business to the world," and went so far as to add, "I have been a friend and admirer of GE and its leaders for decades." As we all know, O Cubed drives a hard bargain and is also a lovah of the ladies. So, let us determine conclusively, here and now-- did GE offer unfettered access to Hayden Panettiere, and did WB hold out until a guaranteed menage was agreed upon starring the cast of 30 Rock? Cause that's what we're hearing.
Buffett also told gal-pal Becky Quick, in a phone interview (from an airplane), "The cheaper things get, the more I like them." Make of that what you will.
*And plans to sell at least $12 billion of stock to the public.


Warren Buffett And David Einhorn Are In Agreement Re: The Frigidity Of Their Disfavored Investment Ideas

Back in February, in his annual letter to investors, Berkshire Hathaway chief Warren Buffett spent a good bit of time discussing why one shouldn't own gold. Beyond the fact that, according to WB, gold doesn't "change in size and [is] incapable of producing anything," and you'd be much better off buying farmland (which "a century from now will have produced staggering amounts of corn, wheat, cotton and other crops and will continue to produce that valuable bounty") or shares of Exxon Mobil (which "will probably have delivered trillions of dollars in dividends to its owners," the Oracle of Omaha had one incontrovertible, be all end all reason for eschewing the metal: its unfuckability. Oh sure, you can do things to a cube, you can fondle it, you can talk dirty to it, you can send nude pictures of yourself, you can even drill a hole in it and fuck it senseless, but, the thing is, the cube will not respond. No reciprocation, no gratitude, not even a sign it enjoyed itself.  For Buffett, no further argument was necessary as to the worthlessness of the commodity. (Silver, on the other hand, will make you feel like you're 18 again.) Anyway, David Einhorn sort of feels the same way about the dollar. Greenlight Capital 1Q2012 Letter To Investors [PDF] Related: Don't Think He Hasn't Tried