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Don’t make that conclusion yet. This was what the Oracle of Omaha spoke at BRKA’a annual meeting. http://money.cnn.com/2006/05/05/news/newsmakers/buffett_050606/index.htm
I understand he has’nt been right in all his plays (like his short position on $$ last year). But I trust him most on the long term plays. Nice analogy to the cinderella tale too.