Two Compelling Articles to Send Clients

Sunday, September 19th, 2010

“I’m a huge bull on this coun­try … we won’t have a dou­ble dip reces­sion. I see our busi­nesses com­ing back almost across the board.”  .…War­ren Buf­fett, Berk­shire Hathaway

“GE is now find­ing it prof­itable to build man­u­fac­tur­ing and ser­vice cen­ters in the United States rather than over­seas, because it is more com­pet­i­tive to do so.”   … Jeff Immelt, CEO, GE

“I am very enthu­si­as­tic about what the future holds” .… Steve Ballmer, CEO, Microsoft

One of the most impor­tant roles for advi­sors is to be an emo­tional anchor for clients … pre­vent­ing the highs from being too high and the lows from being too low.

Today, many Cana­di­ans are pes­simistic about the U.S. and global economies … dri­ven in large mea­sure by daunt­ing head­lines about slow growth, weak hous­ing prices, high unem­ploy­ment and deficit prob­lems in much of the devel­oped world, as well as polit­i­cal dis­cord in Washington.

This pes­simism is ampli­fied by the media cov­er­age given to voices of gloom such as Nouriel Roubini and David Rosenberg.

Pre­sent­ing an upbeat outlook

That’s why a con­fer­ence that took place just last Mon­day gives advi­sors the chance to pro­vide clients with some off­set­ting per­spec­tive on the mid and long term pos­i­tives for the United States.

Speak­ing on Mon­day Sep­tem­ber 13 to 2000 busi­ness and polit­i­cal lead­ers in Mon­tana, War­ren Buf­fett, Steve Ballmer of Microsoft and GE’s Jeff Immelt talked about good news at their com­pa­nies and a pos­i­tive out­look for the future.

Here are two arti­cles on this con­fer­ence that you can send clients, one from Bloomberg and other from Yahoo News:

http://www.bloomberg.com/news/2010–09-13/buffett-rules-out-double-dip-u-s-recession-says-berkshire-units-growing.html

http://​news​.yahoo​.com/​s​/​a​p​/​2​0​1​0​0​9​1​3​/​a​p​_​o​n​_​b​i​_​g​e​/​u​s​_​e​c​o​n​o​m​y​_​l​e​a​d​ers

And here are some of their comments:

War­ren Buf­fett, Berk­shire Hathaway:

“I’m a huge bull on this coun­try … we won’t have a dou­ble dip reces­sion. I see our busi­nesses com­ing back almost across the board … … it’s night and day from a year ago.”

“I’ve seen sen­ti­ment turn sour in the last three months or so, gen­er­ally in the media. I don’t see that in our busi­nesses … we’re employ­ing more peo­ple than a month ago, two months ago.”

“The things that worked for the coun­try through a cen­tury of two world wars, a depres­sion and more — all while increas­ing the stan­dard of liv­ing — will work again.”

“Banks are lend­ing money again, busi­nesses are hir­ing employ­ees and I expect the econ­omy to come back stronger than ever.”

Steve Ballmer, Microsoft:

“There soon will be more tech­no­log­i­cal advance­ment and inven­tion than there was dur­ing the Inter­net era and that will help drive busi­ness growth.”

“I am very enthu­si­as­tic about what the future holds for our indus­try and what our indus­try will mean for growth in other industries.”

“We will see new tech­nolo­gies that move beyond the Inter­net to tie together com­put­ers, phones, tele­vi­sions and data cen­ters to cre­ate amaz­ing new prod­ucts. And the pace of inno­va­tion will increase as tech­nol­ogy makes work­ers more productive.”

“All areas of sci­ence today are mov­ing for­ward more quickly. The speed of sci­en­tific break­through is accelerating.”

Jeff Immelt, GE:

“Angry polit­i­cal rhetoric is not help­ful and head­lines are too focused on find­ing neg­a­tive indicators.”

“Busi­ness at GE is improv­ing. Signs across the world show growth improv­ing as evi­denced by a rise in GE’s orders.”

“GE is now find­ing it prof­itable to build man­u­fac­tur­ing and ser­vice cen­ters in the United States rather than over­seas, because it is more com­pet­i­tive to do so.”

“The U.S.‘s cen­tral chal­lenge will be to speed growth. We need an increase in exports of man­u­fac­tured goods to help com­pete glob­ally. Expan­sion will be fur­ther bol­stered when smaller busi­nesses and con­sumers regain con­fi­dence in banks and are able to bor­row more.”

“We need peo­ple to be able to feel like they’re going to get loans, the process is going to work and that they under­stand the rules.”

“The U.S. is going to need to adjust, though. The econ­omy since the 1970s has been dri­ven by con­sumer credit and a mis­guided notion in build­ing a “lazy” ser­vice econ­omy. Man­u­fac­tur­ing, with an aim to reduce the trade deficit, is the key.”

“The push for an exclu­sively  service-based econ­omy was just wrong. It was stu­pid. It was insane .The future of the econ­omy has to be as an exporter.”

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Tags: Berkshire Hathaway, Buffett Rules, Ceo Microsoft, David Rosenberg, Discord, Double Dip Recession, Economy Leaders, Emotional Anchor, Global Economies, Jeff Immelt, Last Monday, Lows, News Yahoo, Nouriel Roubini, Pessimism, Political Leaders, Positive Outlook, Steve Ballmer, Upbeat Outlook, Warren Buffett
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