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World's Richest Man invests in RVs

Posted January 06, 2009 9:48 AM

From Autoblog:

Everyone's broke. Gas prices keep rising and falling. America's three largest manufacturers of recreational vehicles are losing money like their pockets are full of holes. Perfect time to invest.Well, it is if you're Warren Buffett, the richest man in the world, who has made an art out of "buy low, sell high." Through his holding company Berkshire Hathaway, the Texas-based investor has invested some $40 million in Middlebury, Indiana's Coachmen Industries, makers of the Viking line of motor homes. The move is diametrically opposed to that of fellow American investor Kirk Kerkorian, who is rapidly divesting from America's automakers. Prospects in the RV market hardly look any better than Detroit's - projections place sales next year at their lowest in 18 years - but sooner or later, they'll recuperate. You can bank on that...Warren Buffett certainly is.

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Guru
Engineering Fields - Systems Engineering - New Member Popular Science - Weaponology - New Member

Join Date: Jun 2006
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Good Answers: 62
#1

Re: World's Richest Man invests in RVs

01/06/2009 12:41 PM

I deeply admire Warren, but he is also down 50% on his contrary investing so far - some 25B if I recall.

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Anonymous Poster
#2

Re: World's Richest Man invests in RVs

01/06/2009 12:43 PM

Warren Buffett sees the future. We soon won't be able to afford cars AND homes. So we're going to have to go double-duty and live in a car-home.

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Guru
United Kingdom - Member - British

Join Date: Nov 2007
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#3
In reply to #2

Re: World's Richest Man invests in RVs

01/06/2009 1:29 PM

thats an RV

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bondy111
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Anonymous Poster
#4

Re: World's Richest Man invests in RVs

01/07/2009 9:50 AM

Warren Buffet is able to see beyond the present dillemna, and plan for delayed gratification - quite contrary to the culture of greed, and desire for immediate gratification that has brought the world to the brink of financial collapse. Now whether he'll be as philantropic with his earnings as, say, Bill Gates or not - we'll have to wait and see.

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Anonymous Poster
#5
In reply to #4

Re: World's Richest Man invests in RVs

01/07/2009 10:02 AM

In June 2006 he gave Berkshire Hathaway shares worth over $30 billion to the Bill and Melinda Gates Foundation, the biggest single charitable donation in history.

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