Factoid: “Unprecedented” drop in holiday sales?
Reuters: No Thanksgiving rest for retailers in sales race (read article)
(see full size image here)
Buffet Biggest Bet…
In his biggest bet yet, Warren Buffet (via Berkshire Hathaway) is buying a 77% stake in Burlington Northern Santa Fe (a railroad company). Do the purchase price and long-term financials make sense? I have no clue . One assumes they do unless Warren’s lost his mind. The basic argument for rail makes sense:
- American’s buy stuff
- Stuff has to get from manufacturer to marketplace
- Pending any breakthroughs in teleportation, rail is going to be a big part of that moving stuff
So it’s an industry with a long-term future. The long-term outlook for oil and coal probably played a part investing in rail, too. But, I still have to ask…
Has Warren Lost His Mind?
This is a semi-serious question. Or is he telling the whole story?