It’s not easy to identify with a billionaire. 

When we hear that Kirk Kerkorian has upped his stake of Ford by 20 million shares or that Warren Buffett is throwing anywhere from $4 to $6.5 billion into an acquisition of Wrigley, it all sounds a bit like funny money. It’s not like any of us could do what they do to stay so rich. 

But when you hear Warren Buffett talk about why he does what he does, he brings it back home in language we get. This week, the Wall Street Journal pulled a classic Buffett line out of a letter he wrote years ago to Berkshire Hathaway shareholders:

“Be fearful when others are greedy, and be greedy when others are fearful.”

That little phrase tells you a lot about how Buffett makes as much as he does. 

And it looks like Buffett is acting a little greedy right now, while so many others are acting fearful. Of course what you get greedy about has to be considered very carefully. But according to Warren, the time is right. 

This may be one of those times when you really can identify with a billionaire.

Solid Thinking

Amid all the bad news lately, it's time we recognize some important realities. 

We’re still living in a country that folks are literally dying to get into. Folks who create businesses are still buying and creating new businesses. Every time someone talks about $200 barrel oil, it makes it even more attractive to find new ways of getting more oil. Housing costs are now coming down to levels that normal folks can afford -- if the politicians would just keep their hands off the mortgage market and allow the inventory of houses to clean itself out. Jobs are still being created and markets here and overseas are still growing. All and all, on a lot of fronts it looks like we’re doing pretty damned well, all things considered. 

And guess what. It looks like things are getting better even without those stimulus checks. The American people understand in their gut what egghead economists and self-centered politicians never will -- that our economy is built on more solid stuff than subprime debt or economic "bailouts." 

It’s based on folks who just want to get the job done…whether they’re billionaire investors in Omaha, or chocolate makers in Springfield.