Tuesday, Apr 29, 2008
Buffett snaps up Wrigley but still warns of recession
MoneyWeek: Warren Buffett bags a bargain
Warren Buffett is doing deals again - this time for Wrigley - but he still thinks we're facing a recession. Meanwhile, rights issues from RBS and HBoS show that while the government would love to spin its way out of a downturn, the banking sector is facing up to this reality.
But while it may be better for the banks to do this sooner rather than later, the dividend will also take a hit - meaning investors should ignore tempting yields, and stay away from bank shares.
Posted by damien @ 12:31 PM (256 views) Add Comment
2 Comments
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1. Bystander said...
with the amount of influence this man has, he could tell the world that the moon is made of cheese and then sell shares in it to the believers. He has a massive 'war chest' of cash and is talking down the market/ economy to snap up as many bargains as he can before the recovery, which would probably happen quicker if not for vested inetersts like him and others talking it down. Money to be made going up and going down, if your timing is good and/or you have huge influence. Everyone else suffers, however.
2. plato said...
Wrigley ------------- How appropriate.