According to today's Reuters, billionaire Warren's Buffett's vast empire has seen its Class A shares drop over 50% since the last quarter of 2008. If you owned just one share of this company, you've seen a loss of over $75,000. Berkshire Hathaway quarterly profits have also fallen 96%. Although this news isn't entirely apropos to Old St. Patrick and the Church in general, it is instructive for those of us who are feeling the pinch of the nasty economy to know that even the "smartest of the smart" have made big errors in judgement regarding their investments in the past also. Somehow knowing that the richest man in the world is also suffering makes us feel not so stupid.
Even Warren Buffett's billions are hurting
According to today's Reuters, billionaire Warren's Buffett's vast empire has seen its Class A shares drop over 50% since the last quarter of 2008. If you owned just one share of this company, you've seen a loss of over $75,000. Berkshire Hathaway quarterly profits have also fallen 96%. Although this news isn't entirely apropos to Old St. Patrick and the Church in general, it is instructive for those of us who are feeling the pinch of the nasty economy to know that even the "smartest of the smart" have made big errors in judgement regarding their investments in the past also. Somehow knowing that the richest man in the world is also suffering makes us feel not so stupid.
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