Warren Buffett gave an interview this past week to ABC’s This Week. Buffett advocates for raising taxes on rich billionaires like himself and lowering taxes even more for the middle class. He believes that tax hikes on the rich are essential to an economic recovery.Buffett disputes the theory of trickle down economics stating that “the rich are always going to say, just give us more money and we’ll go out and spend more then it will all trickle down to the rest of you. But that has not worked the last 10 years and I hope the American public is catching on.”
I happen to agree with Buffett and believe that the Bush tax cuts should not be extended for anyone making over $1 million dollars or more. Read why in the Obama solution.
It’s time for the quarterly Warren Buffett watch. Buffett recently released his 3rd quarter holding for Berkshire Hathaway. The report covers Buffett’s transactions up until September 30th of this year. Investors everywhere patiently await the disclosing of Buffett’s latest portfolio moves. So, what did Warren Buffett buy?
Investing in the stock market can be a confusing journey. People often wonder what to look for when buying a stock. Over the course of the next two weeks, each day I will break down one component to look for when investing. We will learn how to buy stock like Warren Buffett. All of this is designed to help make you a better investor and teach you about building wealth. This series is called the 10 Things To Look For When Buying A Stock. Number one on the list is to invest in companies with a wide economic moat.
Today, has been a rough day for economic news. Things are looking bad on the mortgage front as foreclosures increased during the 3rd quarter. This is despite interest rates dropping to 4.19%. Applications for jobless benefits surged to 462,000. Credit default swaps are widening again as fears abound that banks may be on the hook as more residential mortgages go into default. Despite all of the negative data, I am going to use the current weakness to add to my positions in the following stocks.
