Warren Buffet cleans out at the fire sales
Written by Toni DasGupta on August 22nd, 2007 | Posted in Squawk-Box
There is a fire sale, and Warren Buffet is out shopping. WSJ reports that the legendary investor is buying up distressed properties from the shakeout of the hedge funds, and the cash strapped debt market, possibly including parts of Countrywide Financial. According to Warren Buffet, “I can spend money faster than Imelda Marcos when things are right”, or wrong, as the case may be.
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