a few minor corrections on the Buffett story,his returns for a...

a few minor corrections on the Buffett story,his returns for a long period were average over the period of 26% after costs,and yes he doesnt rush to reinvest looking for opportunity,today that means China, Japan its a global focus now.

and good businesses with a particular franchise with recurring earnings have the greatest appeal,mind you he doesnt always get it right when asked which was the worst company he has bought ,the reply, "berkshire hathaway" but you would have to read "The Snowball" to really appreciate the context.

as for Mr Obama and Mr Buffett, well Mr Obama had 20 years on the street with a little firm called Munger and Tolles,that would be Charlie Munger, Warren Buffetts great life long buddy.

You could not do any better than take notice of what Obama
and Buffett have to say they understand the pyschology of markets built on confidence and how the street works in those markets