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FYI: From Businessweek (9/3/2001. 8 years is a bit longer than the
gneral media expected recovery in Q3 2001, oops make that Q4 2001, oh
sorry we meant H1 2002, umm ... <g>. Sounds like the USA will be
following in Japans footsteps. Might even be a 75% off sale on
California real estate by then!
JW
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THE ECONOMY
Buffett Forecasts Eight Bad Years
If you're looking for a rosy economic forecast, don't knock on Warren
Buffett's door. Seems the Berkshire Hathaway chairman and King of All
Value Investors has been telling the executives he meets with to
brace themselves for a long slowdown. Not only is there no turnaround
in sight this quarter or even this year, according to Buffett, but
those who've met with him say that he is predicting eight years of
economic stagnation. Buffett attributes the standstill to a "hangover
effect" from the excesses of the late 1990s, says one private equity
investor who has heard the Sage of Omaha's reasoning.
Buffett generally doesn't speak to the press, and questioning his
headquarters about his economic forecast proved to be no exception.
But if the 70-year-old business guru is right--as he so often has
been in the past--his strategy of rational investing for the long
term is going to look even smarter down the road.
By Heather Timmons
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