Warren Buffett Isn't An "Idiot" .. But He Allowed "Inexcusable" Losses

I think Mr. Buffett made some terrible mistakes last year. We all made some mistakes. And the fact that Mr. Buffett was down, what, 45 percent, that Berkshire was down 45 percent, and that not enough action was taken to mitigate those losses, I thought was disconcerting and poor trading. I am short Berkshire Hathaway right now for that reason. It continues to sell at a huge premium to net asset value, so I'm short of it and I'm long of Goldman Sachs. I'm short of Berkshire, and I'm long of Lowe's because they sell at discounts. But I think that Mr. Buffett made some terrible mistakes last year and when you're down 45 percent for a year, I'm sorry, that's inexcusable.