After voicing support for Obama, Buffett nonetheless noted the U.S. economy had managed to do “awfully well” despite a depression, two world wars and many financial crises.(Hat tip to Charles Smyth.)
“They say in the stock market ... buy stock in a business that’s so good that an idiot can run it because sooner or later one will,” he added.
“Well, the United States is a little like that. We can take a little mis-management from time to time,” Buffett said.
Tuesday, May 20, 2008
Quote of the Week
Yeah, I know, it’s only Tuesday. Still, this gem from yesterday’s announcement that American billionaire businessman Warren Buffett is backing Barack Obama for president is priceless--a great slap at George W. Bush: