Sunday, May 25, 2008

"US is in recession" finally approved by Warren Buffet

Warren Buffet, the Oracle of Omaha has certified that US is now in recession(or perhaps we are already in recession). The world's richest man did not disclose how long it will take before things work out ---but is heard to have said that the US Recession is likely to be long and deep.

Headquarted in Omaha, Berkshire Hathaway is looking for possible acquisitions(in this time, thats the only thing that will sustain him ---don't forget he is too hit by credit meltdown). Though he already has big brands under him like Coca-Cola, Gillette, GEICO insurance, he is looking for possible companies to takeover.

With approximately $35 bn in cash, he had said last month that Berkshire may even have acquired the ailing Bear Sterns had it not been for lack of cash( he needed a dozen more billions to buy the debt-ridden company).

No comments:

Post a Comment