[Marxism] The ruling class in the United States of America istheentire capitalist class!

[Shane Mage]

On Nov 1, 2008, at 1:10 PM, S. Artesian wrote:
>
> "The Other Reason for Warren Buffett's Success"
> "...As recently as 1995, 73.5% of Berkshire's total assets consisted  
> of a
> portfolio of publicly traded stocks.... As of June 30 [2008] though,
> Berkshire's stockholdings made up just 25% of its assets...
> ...Since the beginning of 2006, Berkshire has spent nearly $17  
> billion buying
> private companies lock, stock, and barrel...
>
> >Like I said, securities are not long term investments, but only   
> trading
> >vehicles, unless of course you are selling the securities, then  
> flogging the
> >"long term" is a time-proven method of separating fools from their  
> money.


This totally misunderstands Buffet, what he does, and why he  
succeeds.  Buffet has from day one stated his method of securities  
analysis as to value equity investments on the basis of their pro rata  
share of what he would be willing to pay for the *whole company*.   
Since 1995, recognizing the gross overvaluation of most of the stock  
market,  and recognizing that buying enough common shares to be  
meaningful for BK
would inflate their price even more unreasonably, he has accumulated  
cash and used it to make *long term investments* when whole companies  
can be bought at a reasonable price (and now to place funds at juicy  
terms when corporations debilitated by their short-term speculations  
have to come to him for funds).  '"Securities" includes the stock of  
privately as well as publicly held corporations.  A corporation's  
common stock does not cease to be a "security" even if BK owns 100% of  
it and even if it consolidates results on its overall tax return.

Shane Mage

> This cosmos did none of gods or men make, but it
> always was and is and shall be: an everlasting fire,
> kindling in measures and going out in measures."
>
> Herakleitos of Ephesos