Wednesday, August 27, 2014

Buffett Stock Tip: Sell Obamas

The thing about a chap like Warren Buffett, described by some as the world's foremost stock picker, is that he has to be careful.

A rich billionaire has to keep his friends close and his enemies closer.  Because billions.  Everyone wants a piece of Warren, including the tax man.

So Warren Buffett has sailed a very clever course during the Obama administration, as Andrew B. Wilson reminds us.  Back in November 2010 Warren wrote a letter to his Uncle Sam (printed in the New York Times) thanking his uncle for getting us through the Crash of 2008.

A grateful president gave Warren a Presidential Medal of Freedom not three months later.

And Warren has chirped up a couple of times about the benefit of increasing taxes.

Earlier this year, Fox News reported that Warren had given $1.2 billion to abortion groups since 2001.

I tell you what I call all of that.  I call that taking care of business.  A big billionaire like Buffett is a target for political activists.  It's a good idea for someone like him to kow-tow to the liberal household gods and buy a little protection.

But now it turns out that Buffett is helping finance the "inversion" of Burger King, as the burger business merges with Canada's Tim Horton and proposes that the resulting corporation be a Canadian corporation and lower its US tax bill.

Chaps like President Obama call the inversionists unpatriotic.

Wait!  I thought that dissent was the highest form of patriotism!

So what is Warren Buffett's game?  He has been making nicey nice with the Dems ever since he endorsed Obama in 2008.

I will tell you what Buffett is saying.  He is saying that Obama is now a busted flush and so he doesn't have to suck up to Obama and his Chicago machine any more.

In other words, the world's foremost stock picker is telling us that it is time to sell Obama.

No comments:

Post a Comment