[googlevideo=http://video.google.com.au/videoplay?docid=4537231419795681197&ei=EKj2SL_TD6eKqQPPgIH4Dw&q=warren+buffet+interview+with+charlie+rose&hl=en]
In this interview Warren Buffet speaks to Charlie Rose. Below are some take a way’s from this interview. What impresses me about Warren, is his total and unfailing ability to NOT get caught up in the greed and fear. He is the Buddhist monk of the business world. He sticks to his ethics and principles and never steps outside of them. Truly Inspirational.
Cash is only king when you do something with it. But it buys more at some times rather than others. Warren aims to be “Greedy when others are fearful, and fearful when others are greedy.” Ultimately, he says, this crisis was fueled by the housing bubble, just like the dot com boom of the late 1990′s. And everyone was in on it, not just he man on the street.
With regards to the $700 billion that has just been passed, he would rather be ‘approximately right, than precisely wrong.’ He is a big advocate of the stimulus bill and says it needs to be done sooner rather then later.
Warren likens this to an emergency accident. Don’t dither about if the patient was wrong, just get him fixed and then look at blame and justice later. What is needed now is decisive action, and leadership.
Warren closes by summing up that the capitalist system is fine, and while this is a problem, it will be solved and in the long term the world will be in a better position 10 years from now than it is today.
As president Roosevelt stated: The only thing to fear, is fear itself.
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