Of Interest...Not Of Reason

Buffett has taken a bit of criticism for his defense of Goldman Sachs. Here is a CNBC article summarizing some of that criticism (and support).

I happen to agree with much of the criticism but not at all surprised by Buffett's defense of Goldman. The fact is, he has a large financial interest to protect.

"Would you persuade, speak of interest, not of reason." - Ben Franklin

In a perfect world, I'd like to see Buffett come down much harder on the Goldman and the industry as a whole but that's not in the cards. Charlie Munger, in his own unique way has been plenty critical of Goldman and, more generally, investment banking practices while still carefully not undermining Berkshire's investment interest.

Because of the image that's been cultivated, some seem to expect him to be Saint Buffett. I prefer to just think of him as an exceptional businessman who also happens to be a good teacher and practitioner of sound investing.

Share on :
Of Interest...Not Of Reason
Of Interest...Not Of Reason
Reviewed by jembe
Published :
Rating : 4.5