Gurus

Buffett: “Pearl Harbor” Has Passed

Alright people. You can calm down about the economic catastrophe. Warren Buffett says it’s over. Or, almost at least—according to Buffett, we’re past the “Pearl Harbor” conditions of last September but “we’re still at war.” He explained, “Pearl Harbor was September. At that point, you could have lost the war. And there was a strike at the heart of the American system, the financial system. And we got past that. Some of the right decisions were made then, so I give people great credit for doing that. The war isn't over, though.” According to the Financial Times, “Warren Buffett will be under pressure at Saturday’s annual gathering of faithful shareholders to explain his worst year ever, with the usually adoring crowd set to probe the legendary investor on his bargain-hunting strategy, succession plans and views of the crisis.”