Updated from 6:59 a.m. EDT
To be fair, I'm being a bit cynical in this article. Warren Buffett, despite his father having once been a Republican congressman from Nebraska, has been a lifelong Democrat. So it's natural he'd support Obama. However, I think Buffett gets particularly enthusiastic when he has an opportunity to make money.
Mega-profitable opportunities are hard to come by for Buffett, particularly with a $50 billion cash hoard and a lumbering giant such as
under his able command. And Barack Obama presents just such an opportunity for Buffett.
Buffett is not alone in advising Obama on the economy. Eric Schmidt, CEO of
, has also been advising Obama, as has
(C) Chair Bob Rubin and Jon Corzine, former
co-chairman and now-governor of New Jersey. With investments ranging from
Johnson & Johnson
, it's worth looking at the wider reasons why Buffett might be supporting Obama's stances on various issues.
A note from James Altucher:Every weekend I send an email to Jim Cramer and several hedge fund managers about the most interesting portfolios posted on Stockpickr that week. Usually those portfolios not only list stocks according to atheme but also offer significant analysis as to why the stocks are cheap.Here are some examples: Here's the challenge: Build a portfolio at Stockpickr.com with greatanalysis, and send me the link. Each great portfolio (with analysis)will get posted on TheStreet.com with your byline (as a "StockpickrGuest Columnist") and will be included in my email I send to Jim and the otherhedge fund managers on my list.
- Stocksrelated to drilling the Marcellus Shale
- MLPSwith yields above 7%
- Microcapstrading for less than tangible book
- Stocksthat do well after Hurricanes
At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.
James Altucher is president of
LLC, a wholly owned subsidiary of TheStreet.com and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for the
and the author of
Trade Like a Hedge Fund
Trade Like Warren Buffett
. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback;
to send him an email.
TheStreet.com has a revenue-sharing relationship with Trader's Library under which it receives a portion of the revenue from purchases by customers directed there from TheStreet.com.