This link has been bookmarked by 1 people . It was first bookmarked on 04 May 2008, by Elaine Yi.
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04 May 08
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Well, who knows on that? But I don't play sectors, Joe. When I -- the thing that makes my job fun is when I go to work in the morning, I don't really know what's going to happen. So, two months ago, I didn't have the faintest idea I would be investing 6-1/2 billion of Berkshire’s money in this particular transaction. You know, and then the phone rings. I love it when the phone rings. Usually it's the wrong number but every now and then something happens.
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Well, what holds an interest for me is a business I can understand and one that's got durable long-term competitive advantage and the good management and the price makes sense. If I can find that any place, I’ll do it. And a lot of times, things are just beyond my competence. Somebody can have a wonderful idea that I don't understand and God bless them. I'll stick with stuff I understand.
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I don't know about the stock market in terms of what it will do.
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My general feeling, and this is not a field of specialty for me, but my general feeling is that the recession will be longer and deeper than most people think. But what the stock market, the stock market often does not behave in sync with what's going on in business. So, I wouldn't want to predict what the stock market might do. My feeling from what I see in the economy is that this will not be short and shallow.
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I like spearmint and Juicy Fruit
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I love the new Dove bar and I’ve even gotten into Skittles lately.
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