David Parkinson
Published on Friday, Nov. 06, 2009 10:51AM EST Last updated on Friday, Nov. 06, 2009 7:41PM EST
Berkshire Hathaway CEO Warren Buffett holds a hand of cards bearing a caricature of his likeness, while playing bridge with shareholders at the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., in May 2009
“It's an all-in wager on the economic future of the United States. I love these bets.”
– Investor extraordinaire Warren Buffett, a long-time fan of old-school businesses, comments on his Berkshire Hathaway Inc. holding company's $26-billion (U.S.) deal to buy a railroad, Burlington Northern Santa Fe Corp.
REUTERS
A shopkeeper shows gold bangles to a customer at a jewellery shop in Mumbai
“I would have advised the governor of [the Reserve Bank of India] to buy gold, as our forex reserve is comfortable. The RBI has done just that. That doesn't mean we don't prefer dollars any more, or like gold any better.”
– Indian Finance Minister Pranab Mukherjee says he supports the decision of his country's central bank to spend $6.7-billion (U.S.) to buy 200 tonnes of gold from the International Monetary Fund, but tries to play down any implications that the country might be worried about having too much of its reserves tied up in the slumping U.S. dollar.
Vladimir Putin
“We will have to take into account this style of dealing with partners in the future … GM did not warn anyone, did not speak to anyone ... despite all the agreements reached and documents signed. Well, I think it is a good lesson.”
– Russian Prime Minister Vladimir Putin shows his disdain for General Motors Corp.'s sudden decision to abandon its sale of its German-based Opel division to a consortium that included Russia's Sberbank and Canada's Magna International Inc. He said GM's about-face betrayed “scornful approach toward partners.”
A U.S. dollar bill, saying "In God We Trust"
“Profit is not satanic.”
– Barclays PLC chief executive officer John Varley takes to a church lectern at St. Martin-in-the-Fields in London to argue that the exorbitant pay of top bankers isn't inconsistent with Christian values. His 2008 salary was $1.9-million. (Let's hope he left a little something in the collection plate on the way out.)
Jim Rogers, left, and Nouriel Roubini
“It's clear Mr. Roubini hasn't done his homework, yet again … If something is up 100 per cent this year but down 70 per cent from its high, that's not a bubble, that's a good year.”
– Investing legend Jim Rogers, speaking with Bloomberg Television, disputes gloom-and-doom academic Nouriel Roubini's assertion that many markets are forming dangerous asset bubbles due to dirt-cheap interest rates and a weak U.S. dollar.
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