Last week Warren Buffet came in and purchased Goldman Sachs for 5 billion dollars. When everyone else was running away from failing banks, mortgage houses and lending institutions, Buffet saw an opportunity to profit. He was going against the flow. He was being a “Contrarian Investor.” Buffet, one of the richest men in the world, has become a multi-billionaire by going against conventional wisdom time and time again, and by seeing the VALUE that others either cannot see, are unwilling to see or can ill afford to buy. Buffet says this about Goldman Sachs, “(It) has an unrivaled global franchise, a proven and deep management team and the intellectual and financial capital to continue its track record of outperformance.”
There will need to be many people like Warren Buffet who step forward to purchase the banks that are failing in this current financial crisis our nation is facing.
I thought about this principle as a father and a leader of a small non-profit organization. In a parallel way to the current economic crisis, that has been building for years but now has come to the nation’s attention, I am mindful of something that has also been brewing out there for a long time but I have recently become very aware of. The trend I see, that has been increasing at an accelerating rate, is that we are all being inundated with impersonal, non-relationally based types of communication. Emails are full of impersonal ads and promotions. Automated callers are calling our homes and our cell phones. And with regular mail you might as well forget about ever receiving anything of a handwritten or a personal nature.
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