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Hmmm.....we made it so far without the forecasted October implosion, so I am cautiously optimistic through end of the year. However, I would never discourage anyone from taking profits. Ed O Neil once suggested that if you had the good fortune to double your money in an idea, to sell half and then let the rest ride until it had a 20% pull back from it's high. Advise I follow.Quote:
Originally Posted by Rontele
I just got kinda nostalgic reading the first couple pages of the thread again after all this time. Those were the days.
Yeah, we're all gonna sit down for a couple hours and read that.Quote:
Originally Posted by Benny Profane
More like 20 minutes (unless you have to sound out the words). Well spent 20 minutes, I'd say.Quote:
Originally Posted by iceman
It's affecting the markets. Caution is the word.. I still think November has a chance to be a good month but I'm rebalalancing some today. More cash heading to Mr. Gross.Quote:
Originally Posted by wcf3
Warren Buffett's Berkshire Hathaway on Tuesday said it is spending $44 billion to buy out railroad operator Burlington Northern Santa Fe, sealing the biggest acquisition in the company's history in what the famed investor called "an all-in wager on the economic future of the United States."
"Our country's future prosperity depends on its having an efficient and well-maintained rail system," Buffett said in a press release. "Conversely, America must grow and prosper for railroads to do well."
He added, "Most important of all, however, it's an all-in wager on the economic future of the United States. I love these bets."
I figured the market would rally on that news.
Shows what I know
Lots of cross currents this week. Aussie raised rates. 5 central banks have announcements and employment on Friday. Also, gold is rallying in the face of a strong dollar. That's pretty bearish for equity.Quote:
Originally Posted by Rontele
http://www.gmo.com/websitecontent/JGLetter_ALL_3Q09.pdf
Grantham's Q3 letter. Worth a read, particularly for his continued call-outs.
What's he saying there? Does he think he's the president? Advocating infrastructure spending? Or, is the essence in what he isn't saying? How much money is he going to make? Did he get a spectacular deal? Did the other side have to sell, and, for what reason?Quote:
Originally Posted by 4matic
Before the bust it was private jet time sharing, now it's railroads. I scratch my head. I thought he was an insurance salesman.
He's not a "doomer" like you. That's all.Quote:
Originally Posted by Benny Profane
Yeah, but what is he saying? What's his game?
I agree with what he has to say except that Bernanke had to play the bad hand he was dealt. This mess is not his fault. Would a Volker style unwinding have been efficient? Yes.. but the consequences would have been dire in the short term.Quote:
Originally Posted by JimmyCarter
"Bernanke, the most passionate cheerleader of
Greenspan’s follies, is picked as his replacement,
partly, it seems, for his belief that U.S. house
prices would never decline and that at their peak
in late 2005 they largely just refl ected the unusual
strength of the U.S. economy."
Quote:
Originally Posted by Benny Profane
He bought a $100 a share public company for $44 billion to make money..
Right, that's what I think. So just say that. Don't go talking from the mountain top.Quote:
Originally Posted by 4matic
SAN FRANCISCO (MarketWatch) -- Warren Buffett's $44 billion bet on the Burlington Northern Santa Fe railroad is the kind of big, bold move any 19th century American capitalist would have loved -- and understood.
http://www.marketwatch.com/story/buf...der-2009-11-03
Clever move, fighting cut-and-paste with cut-and-paste!
You see? There you go. Our country's "future prosperity" depends on the average American having a decent job producing a livable wage so that their kids can get a decent education, not enriching Goldman Sachs with commodity plays and covering all those deals with derivatives, Mr. Buffett.
Quote:
Originally Posted by iceman
It was a short comment. Mea culpa..
dumbass:Quote:
Originally Posted by Benny Profane
"after nearly a generation of feasting on derivatives, appears to be acquiring an appetite for core industrial assets right here at home"
Oh, and do you think Mr. buffett has suddenly become a 19th century railroad magnate and turned his back on 21st century financial manipulation? He has a ton of money invested in Goldman, too, smartass.Quote:
Originally Posted by 4matic
I see no point with this comment. Buffett used an investment partner to broker the deal. You want a depression so you can say told you so. Dirivatives and investment banks are not going away.Quote:
Originally Posted by Benny Profane
No, I want a depression so that everything I buy will be much cheaper than it is today, and i won't have to chase returns with my money because deflation is giving me that return in spades.Quote:
Originally Posted by 4matic
But I don't see what that has to do with Warren.