As opposed to “short and shallow” as I have been hearing on the news.  I can deal with short and shallow, but long and deep scares me!

 

Buffett says much of the recession will be caused by the housing slump taking other businesses down with it.  Buffett owns more than 70 businesses, many of them directly affected by the housing market deterioration. His Berkshire Holding Company owns a brick company, a carpet company and an insurance company.  We know how his insurance company is fairing, but now his brick and carpet holdings are hurting a little also.

 

I am getting very worried for Warren.  Will his 62 billion dollars in assets be depleted by the long and deep recession?  The most impressive thing I learned today about Mr. Buffett is that he still lives in the same 10 room home he has occupied for the past 50 years.  Frugality makes me proud and that is very frugal of him! Forget about the jet and the yacht, I understand he needs those for transportation and entertaining. Wow, can you imagine how much junk he has stored up in his garage!  

 

Anyway, now that he owns Wrigley’s, do you think he will supplement the price of a pack of gum!  Not only does it not last as long as it used to, but it cost over a dollar for a pack!  Anyhoo, Mr. Buffett, congrats on another good investment.  Chewing gum makes you feel good and can even help reduce nervous energy. So, I think we will be buying tons of gum during the long and deep period.

 

 

 

Dale Siegel