Newsgroup: it.economia.borsa
Titolo: Warren Buffett la pensa come Michele Valli. Meditate gente ...

Buffett Says He's Not Buying Stock
By Jeffrey Hodgson
LONDON (Reuters) - Legendary investor Warren Buffett on Tuesday said his
Berkshire Hathaway investment company had been doing little buying in stock
markets and suggested shares remained overvalued even after recent falls.
The billionaire stock picker also said the U.S. economy was in the grip of
sharp slowdown which had already begun to hit some of Berkshire's
businesses.
``We're not doing a lot of buying. We're buying more planes than we are
stocks,'' Buffett told a press conference here to promote Berkshire's
Executive Jet unit.
Asked when it would be a good time to begin buying stocks following recent
falls, Buffett said ``When businesses sell in the market for less than
they're worth.''
Dubbed ``the sage of Omaha,'' Buffett has became one of the world's
wealthiest men through savvy investments he made as head of Nebraska-based
Berkshire, which holds large stakes in Coca-Cola Co., Gillette Co. and
Washington Post Co..
Buffett owns just over 30 percent of Berkshire, which made him No. 4 on
Forbes magazine's global rich list last year, behind Bill Gates and Paul
Allen of Microsoft Corp. and Larry Ellison of Oracle Corp..
The Berkshire chief executive drew heavy criticism in recent years for his
decision not to invest in technology, which he saw as overvalued and due for
a fall. Instead, he opted to stick to businesses with solid earnings which
he felt were out of favor.
His decision was vindicated when Berkshire reported net profits up 114
percent for 2000 even as tech markets crashed.
Buffett told reporters he had not bought any technology stocks despite the
sharp fall in their prices.
Asked about the prospects for the U.S. economy, Buffett said he did not know
if there would be a recession, but that U.S. was in the grip of a ``sharp''
slowdown and he would ``be surprised if it ends tomorrow.''
``There's no question there's been a significant slowdown in the American
economy which hits a great many of the Berkshire Hathaway businesses,''
Buffett said.
OLD ECONOMY CUTTING EDGE
Those businesses include such unfashionable ``old-economy'' businesses as
paint, carpet and insulation manufacturers which Berkshire bought at the end
of 2000 and early this year.
In his most recent letter to shareholders, Buffett described them as
``cutting-edge industries'' and jokingly urged shareholders to ``control
your excitement.''
Buffett said the wide holdings of the firm gave the company insight into the
direction of the wider economy.
He said Berkshire's jewelry retailers had begun to see a slowdown last
November and that had carried through to its furniture businesses earlier
this year.
But he said the slowdown had not yet begun to impact the NetJets program of
Berkshire's Executive Jet Inc. unit. NetJets is a program of fractional
aircraft ownership, a sophisticated form of time-sharing in which buyers
share a pool of planes, buying as big or small a block of access as they
want.
``It hasn't hit so far, and I can tell you it has hit our other
businesses,'' Buffett said.
``The real money in this business will be if anybody cancels a plane and I
find about it early, it would be a good stock to short probably...it's a
great leading indicator,'' he added with a laugh.
Asked if he had any advice for investors, Buffett suggested they follow his
example and ``do what you understand.''
--
The Vurt

By Jeffrey Hodgson
Sorry, il titolo è sbagliato
Valli VENERA Buffett.
E cerca di pensare come lui (ma mica è facile..)