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Buffett Set This Train Into Motion

By Jim Cramer

 About this article:
 Traders misjudged the Warren Buffett buy of Burlington Northern. They thought it was aberrant. They thought it made no sense. They thought he had lost his mind. (I even mocked the bears on this point by having a Build-A-Bear saying that Buffett lost his mind.) But this is one of those "upon further review, the ruling on the field is overturned" situations. The public loves Buffett. Worships him. Whatever he does, they want to mimic. Whatever he believes, they will believe. Whatever he buys, they want to buy. They do not understand notions of whether Buffett is destroying his cash position or leveraging his balance sheet or buying cyclical companies way ahead of where they should be. They believe that if he buys BNI at $100, that means he's putting his money where his mouth is and declaring all stocks cheap. They believe that owning a rail...

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