I think Warren Buffett may be losing it. He just released his annual letter. He says his investments in IBM is a great one even though it is a buyback disaster. He says the economy is great and is going to boom despite signs otherwise. And what is crazy is that he says that the only risk to the stock market now is climate change and nuclear war.
Quote: “If there is only a 1% chance the planet is heading toward a truly major disaster and delay means passing a point of no return, inaction now is foolhardy. Call this Noah’s Law: If an ark may be essential for survival, begin building it today, no matter how cloudless the skies appear.”
....
“There is, however, one clear, present and enduring danger to Berkshire against which Charlie and I are powerless. That threat to Berkshire is also the major threat our citizenry faces: a 'successful' (as defined by the aggressor) cyber, biological, nuclear or chemical attack on the United States.”
Goodbye Buffett - the Ben and Graham books were great and you did buy low in the 1970's using their techniques and that was the true secret to your success. You are no longer a value stock picker, but some giant corporate conglomerate and stock market cheerleader just like you were in 2008.
Full letter here:
http://www.berkshirehathaway.com/letters/2015ltr.pdf
And as far as the stock market goes to find out what I am doing go here.