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Consider these recent headlines.

Munich Re confirms Warren Buffett holds stake in co

Buffett, Seeking Acquisitions, to Travel to Europe

Mars, Buffett buying Wrigley for $23 billion

Warren Buffett Predicts a Long US Recession

So Warren Buffett not only thinks we’re in a recession, but he thinks it will be worse than feared. So what does he do? He buys.

To quote George Bailey:

Can't you understand what's happening here? Don't you see what's happening? Potter isn't selling. Potter's buying! And why? Because we're panicky and he's not. That's why. He's picking up some bargains.

Posted by edelfenbein at April 30, 2008 11:56 AM