Warren Buffett, tells us more!

Posted Jul 9th 2009 6:40PM by Sheldon Liber @ www.bloggingstocks.com
Filed under: Other issues, Management, Rants and raves, Interviews, Market matters, Next big thing, Headline news, Recession, Financial Crisis

This morning Warren Buffett was interviewed and said he would be in favor of the federal government passing legislation for a second stimulus bill -- increasing the money supply again by gargantuan proportions.

While "my pal" Warren got plenty of ink (and pixels) for his comments it left me wanting more. Buffett has the most to gain, and the most to lose -- and at the same time he cannot really lose.

Since Buffett has so many billions of dollars and controls billions more, and influences still more in the hundreds of billions, he clearly has been and continues to be negatively affected by our economic firestorm more than almost any other individual could be.

Clearly a second influx of capital into the economy would be of great benefit to him directly. However, I also stated that he cannot lose, simply because he could lose 95% of his fortune and not have to change much in his life.

Getting past all this, what troubles me the most, is that Warren Buffett, the greatest investor of the last three generations only tells us what he would do in general -- not specifically!

If he thinks he could do some good by sharing a more detailed plan or approach to healing the economy then by all means he should do so. It bothers me that he does not get more involved. It bothers me that he does not get in the trenches and use his brilliance where it would do some good. Giving his opinion on talk shows and the occasional phone call from the President and others in Congress is just not good enough.

I cannot accept his broad concepts on the fly, along with his criticism of Congress if he does not get involved. There are very few people that think the folks that got us into this mess know what they need to do to get us out. Many of them will tell you that, in all candor, they are doing their best, trying this and that to see what works.

Buffett does not have all the answers, but he could help more than he does, and Warren, if you are doing more than any of us are aware of, at least let us know you are on the case. That alone might calm the markets.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money.