I find this interesting, if only because of that horrible New York Times piece Warren Buffett wrote telling average Americans to “buy American.” Although I reject the “buy American” expression, Cramer is exactly right in saying that Buffett is selling America just four months after telling others to buy. (Here’s the video.) Here is my take on Buffett as a government propagandist who doesn’t follow his own very emphatic advice. One hedge fund manager says:
“He dove in too fast and probably wishes he had waited a few months. … No one, not even Buffett, can call the bottom.”
Keep in mind that Warren Buffett’s annual letter to Berkshire Hathaway shareholders – which is always a fascinating read – will be available at 8am EST today right here.