Does Warren Buffett know something that the rest of us don’t?
Well, it wouldn’t be surprising since he is the second wealthiest man in the United States of America, and he is estimated to be worth $46 billion at this time. If I was a betting man, I’d say that he definitely knows a lot more than I do.
That’s why I’m really interested in his latest business purchase: Oriental Trading Co., which is a mail order business that sells novelties, supplies, crafts, school supplies and toys.
But why did he make this purchase? Is it just a matter of buying a local business? Oriental Trading Co. and Warren Buffett’s Berkshire Hathaway Inc. are both located in his hometown of Omaha, Nebraska.
Or is Warren Buffett, 82-year-old billionaire, just a fun-loving and happy party animal?
He does own a lot of party related businesses. First up, we have International Dairy Queen Inc., so he has the snack portion of the Obama victory party covered already. Let’s not forget about See’s Candies, which would make excellent party favors. If he wants to go all out and really take care of the partygoers, he can always give them some Helzberg Diamonds. Last but not least, if one of the partygoers happens to get into some kind of an accident, he can help them out by allowing them access to his Geico Insurance Company.
Let’s also remember that he bought most of the newspapers under Media General Inc.’s banner, and he even bought the Omaha World-Herald, which is his hometown newspaper. So he can easily get as much publicity as he wants, and even put his picture in the paper with his favorite party hat on…
There is no question that Warren Buffett is ruling the 21st-century party scene, just like the John D. Rockefeller/Standard Oil of yesteryear.
But this latest Oriental Trading Co. deal shows us that there are some good things on the horizon for America in the future. If the second richest man in the United States of America feels that buying a party supply company is a good bet in our current economy, then he also thinks that Americans are going to have plenty of reasons to celebrate in the near future.
I might be going out on a limb with this next statement, but does Warren Buffett’s latest move come off as a good omen for President Obama? Obama and the rest of the Democrats were thrilled when Warren Buffett told the world that he was in favor of the rich paying more money in taxes – which was later dubbed the Buffett rule. On the other hand, he did not make any new friends in the Republican Party when he made that statement.
So we have to presume that Warren Buffett thinks America is ready to start partying once again, and the party is going to get started by the current president that’s already in power. At least that’s my take based on his current purchase of Oriental Trading Co.
But obviously I could be wrong.
On the other hand, Mrs. Buffett may have just asked him to pick up some party supplies, and since Warren Buffett always think big, he may have just gotten a bit carried away.