Mr. Buffet: you are approximately wrong

Warren Buffett: Well, I don't think it's[US bailout plan] perfect, but I don't know that I could draw one that's perfect. But I'd rather by approximately right than precisely wrong, and it would be precisely wrong to turn it down. We need -- we have a terrific economy -- it's like a great athlete that's had a cardiac arrest.

I like the way Mr. Buffet juggles around words to make an impressive statement. But I think Mr. Buffet was precisely wrong about 5 months ago when he said in this article that the worst of credit crisis was over. That was just the beginning !

Oct 5, 2008

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