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Strategies & Market Trends : Wall Street Analysts

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To: John F. who wrote (163)	5/9/2003 2:18:52 AM
From: Patsy Collins	Read Replies (1) of 167

John, You have to get used to it, if you live in this free country. Only in America do we worship money managers like Warren Buffett and George Soros. These shameless self aggrandizing people will always relish the spotlight and the praise. Little do they realize that they might be simply lucky to be that 1 in a million. For instance, Warren Buffett talks down on the use of derivatives; yet have the biggest user of derivatives; Mr Frank Raines of Fannie Mae on one of his boards. Buffett also bought billions of convertible fixed income securities last year of distressed various internet and technology firms, making hundreds of millions for himself. If the man does not believe in techs and derivatives as he states so publicly; why is he actively profiting from them. I used to admire Buffett; but he seems to be getting more arrogant as he ages. We live in a money hungry culture, here in the States. Sure, it is our rights to do just that. But we should not lose sight that we are lucky to be in that situation. People that are even more lucky should be gracious enough to at least shut their big mouths. PC

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