Hi Swisstrader,
As much as I would like to get back on the go-go boat to Maui, I do not think that a headache caused by a long and fun party can dissipate so quickly ... where are the margin call panics, bankruptcies, bad loans, frauds, arrests, law suits, layoffs, week after rotten week of bad cover stories, acrimonious political debates, the rush for generic branded groceries, the sharp fall off of consumer durable sales and the lament of new college graduates happy to find any work. Have we really travelled so far beyond the world obeying the dictates of business cycles.
The sun rose on the horizon momentarily, and now the sky is overcast. When the sky clears again, consider going home with some hot cocoa and a good book in hand.
Before it is all over, you and I will be chatting about the next exciting issues of bonds from SUNW and CSCO yielding 14%, and about import competition for these same businesses as they mature to standardized plug and play components and generic software, ala GSM or CDMA.
Being afraid is the first measure to remain alive in the Arena. I think hiding under the staircase with your machine cannon pointed at the entrance is an acceptable strategy.
Be very careful.
In the washout, picking cheap but good infrastructure owning companies can yield cashflow for years and years as we idle away the time playing Unreal Tournament in the beach cabana.
Chugs, Jay |
