[socmoth]

I don't know anything inside or specific but I have read some books on buffet. He invests in good companies that are below market rates. His generally buys companies that have sound financials and will continue to make money. He also likes companies that make simple products (razor blades, furniture, not technology : ).

Buffet has gone on record multiple times (cnn, print interviews) saying he would be the person who buys the mortgages from the banks and resales them later if he could get a 700 billion dollar or comparable loan.

The mortgages are current artificially low because everyone is scared. If you can buy them low and sell them once the fear is gone, you could make a ton of money.

People will make money on this situation, the government will completely mess up some aspects of this, articles will be written 'exposing' all the problems.