Warren Buffett is Wrong Again

Over the years, Warren Buffett has been noted for his (solicited and unsolicited) comments across a wide range of subjects. Interpersonal relationships included.

For example, Warren Buffett really thinks this quote regarding the subjects of money and marriage is one of his true all-time gems:

"Marrying for money under any circumstance is never a good idea, and that is especially true when you're already rich!" 

And if you really consider the above quote, you'll come to see that it is always all about Warren.

But, in this case, it does not universally apply. Warren!

Take the case of billionaire Stan Kroenke. Who? Yes Stan Kroenke.

Many years ago Stan married into billionaire quality money with the last name Walton. Yes, Walton as in WalMart Walton.

You see, Stan has done the smart thing contrary to Warren Buffett's thoughts on marriage. (Would he have voided the transaction?)

Stan has stayed married and has done the smart financial thing. He has diversified!

He has diversified into sports!

Check this list of teams Stan owns:

Colorado Avalanche - NHL
Denver Nuggets - NBA
St. Louis Rams - NFL

And, Stan's latest addition, is Arsenal - the third most valuable soccer club in the world behind Real Madrid and Manchester United. Arsenal's value is $1.1 billion and very profitable!

By contrast, Warren Buffett continues to hang out at Omaha Storm Chasers games watching minor league baseball.

To summarize, getting marriage advise from Warren Buffett on "not marrying rich" just isn't a good idea. What is Warren thinking? Why is Warren preaching? (Yes, because Warren is always on the pulpit).

And on second thought, if you do the corresponding research, Warren's advise on a whole host of issues outside of his core investment holdings have been very poor over the past 5 to 10 years.

For instance, he has advised both ex-Calif. Governor Arnold Schwarzenegger and President Obama on economic matters. The economy is down, not up.

Warren has been very bullish on the stock market this year. The S&P500 is now down 4.6%, not up.

And, not surprisingly, Berkshire Hathaway (NYSE:BRK.A), the giant tax-sheltered company that Buffett mostly owns is down this year as well, down 10.9%.

So why would we be surprised that Warren's advise on marrying the wealthy is also a downer!

In conclusion, Stan Kroenke is happily married and happily rich. And most of his sports teams are doing well on the field and on his financial statements.

Warren Buffett is also happily married and happily rich. Yet, one must hedge or avoid altogether these days some of his very random comments distributed to the mass market. Risk is always "on" with commentary supplied by Warren Buffett, Himself.