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Buffett’s Annual Shareholders’ Letter
Unlike last hear, Buffett did not devote much space to the economy. He said the US would recover from the residential real estate slump by 2011 as demand for homes catches up with the supply that accumulated during the bubble. “Within a year or so, residential housing problems should largely be behind us,” said Buffett. “Prices will remain far below ‘bubble’ levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits.” (Also see my post of yesterday, Buffet-o-rama, for Buffett’s comments on a number of topical economic and financial issues.) To gain some insight in the Oracle of Omaha’s actions in these troubled times, please click here for the Chairman’s Letter. (All Buffett’s previous Letters can also be accessed by clicking here.) | |||||||||||
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