Buffett Revisited

We promised to revisit Warren Buffett's equity purchases 30 days after last month's New York Times editorial. We used an S&P 500 average price of 928. Since that deadline fell over the weekend, we averaged Friday's close & Monday's open. So far Warren's bet hasn't paid off. Based on this mornings open price Warren is about 8% underwater from the editorial's starting point. Off course we have now way of knowing what he purchased then or where he actually bought stocks. We did this as a general way of monitering how he's done. Buffett is of course the consumate long term buyer so it's likely he isn't even bothered by this decline. We'll next check back on Mr. Buffett and his purchases at the end of the year.