Wednesday, September 17, 2008

Warren Buffett Joke - A Millionaire Overnight!

I like this email which I received from Wealth Daily yesterday. The following is an extract:

"Here's a different take on an old Warren Buffett joke:

Question: What's the quickest way to become a millionaire?

Answer: Start out as a billionaire and own a Wall Street investment firm or a mortgage bank.


That adage has never been truer than right now.

As you read this...

Lehman Brothers... gone!
Bear Stearns... gone!
AIG... fighting for its life!
Freddie Mac and Fannie Mae... bailed out!
Washington Mutual... grave being dug!
Wachovia... could be next!
UBS... nearly gone!
Morgan Stanley and Goldman Sachs... running for the hills!

A year ago, the combined market cap of Freddie Mac, Fannie Mae and Lehman Brothers was $165 billion. Today? $1.093 billion.

Welcome to the reverse "wealth effect."

And the end of the bleeding looks like it's nowhere in sight."

What a Joke!


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