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Ben Stein - dinner with Buffett (updated with CNN article by Stein)


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It appears to me that Buffett and Watsa now apear to be singing off the same song sheet...

1.) inflation not a large short term concern

2.) US debt not a large short term concern (citing the Japan experience)!

3.) stock markets are not overvalued (notice he did not say they were cheap).


Nice to see some clarity! 

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More from Ben Stein


This, however, said Buffett, was not a reason to doubt the stock market's 2009 comeback. Buffett noted that the biggest gain the Dow had ever notched in the postwar period came in 1954 when, according to him, the unemployment numbers were dismal (although nowhere near as bad as today's) until late in the year, when a rapid recovery began.  The same thing could be happening now, he said. (I checked this later and as usual, Buffett had it right about the recovery from the 1953-54 slowdown.)


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