Monday, March 2, 2009

Warren Buffet Investments Loss of $11bn

Warren Buffet recently quipped that investing in mattresses could be one of the best investments of 2009. (mattresses are a good place to hoard cash in a period of deflation)

He will probably be regretting he didn't take his own advice, after his own investment fund lost a record $11bn. Buying $235m shares in two Irish banks didn't help. Warren Buffet was also caught out by the sharp drop in oil prices we saw in the last half of 2008.

It just shows that even the greatest investors are struggling in this era of great instability. It will be difficult for him to recover these kind of losses given the continued problems in the global economy.

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