Warren Buffett has earned the admiration of many for his extra ordinary ability as an investor. He has successfully navigated his investments through uncharted territories we call equity investment.
No one disputes his ability to pick a good investment or his sound judgment when it comes to identifying an opportunity. His recent association with Barrack Obama has prompted many people to question his motive and reasoning.
Some tend to believe that Mr. Buffett, as many so called independent voters are being repulsed by McCain negative ads or by the shear greed of our capitalistic society, is seeking an alternative therapy for America through Barrack Obama.
The time I have spent among investors and financiers trained me to observe for financial incentives behind every action. So reasonably so I question Mr. Buffett’s intentions and what prompted a statesman such as him to associate with Barrack Obama whose association so far has been exclusively confined to individuals of shady, radical and unscrupulous characters.
After examining several facts, my conclusion is that Mr. Buffett wishes to use his massive wealth to change the American system. In spite of his exterior modesty and diet of Cheeseburger and cherry coke, he has established himself among the ruling elite. As a ruling elite he understands that more transparent the Government is, more accessible the opportunities are; and fewer regulations involves our day to day operations, we will soon see someone climb up to the ladder of financial prosperity and challenge him, Mr. Buffett, for the claim of the throne as ‘the richest man of the world’ or ‘the most talented investor’. We have seen what capitalism coupled with fewer regulations and less government intervention can do: today we see industrialists in India, China and even Mexico challenges Mr. Buffett standing on the Forbes list.
I do not see Mr. Buffett as a sinister antagonist to our capitalist society but I do question some of his strange intentions.
Let us examine his idea for higher inheritance taxes. Today majority of baby-boomers are counting on inheriting something from their parents who are the same elders often referred as ‘the greatest generation’, and who has lived a very moral life, stayed within their means, saved, invested and now they may pass on the fruit of their sacrifice and hard labor to the next generation.
Mr. Buffett has no evidence to show that, should the baby boomers inherit from their parents; the society will become a plutocracy and lose every ounce of meritocracy that has been the guiding beacon of this great nation. In fact if we eliminate the inheritance tax that will prompt more fresh money into the market and more money which otherwise is stagnant will be in the circulation. This economic crisis can use the much needed capital infusion.
Mr. Buffet’s motive to raise taxes will hinder the overall growth of this nation, and it will wipe out all new investment, and eventually dissuade foreign investors.
Mr. Buffett has always bought cheap, maybe his intention is to buy all of our fate and future at a bargain price but question we need to ask ourselves, ‘ARE WE FOR SALE? Are we willing to sell our future, our destiny and our country and embrace the so called fair society so that likes of Mr. Buffett can be the puppeteer and Barrack Obama can act his puppet? We all know Mr. Buffett’s ideology about Fair Society in America and Obama’s intention of seeking Mr. Buffett’s advice.
America is not a social experiment and the founding fathers did not designate Mr. Buffett as our guardian. Rather, we are master of our destiny no matter how large or small that is. This election day we are not only voting for or against a candidate but the 3000 appointees the new President will be responsible for. Can anyone guarantee despite what Obama says, a few of his radical friends and extreme ideological characters will not be placed in key cabinet positions?
We need to keep in mind that through hard work, innovation and with true American value, we do not need to re-visit old achievement of Warren Buffett but to create many wealthier Warren Buffett who will stay true to the principles of this great nation. Now that is true hope.
God Bless America!