lisa sweetie, I see you've thought a bit about buffet since the announcement after the close friday. my 2 ¢ is that buffet does what's good for berkshire-hathaway, and no doubt buffet generally makes shrewd moves. But I really don't see what he did as being very influential on sentiment. after all, even though buffet has always been a specialist in leveraging insurance companies, insurance companies are still kind of dull stuff in terms of sentiment.
Remember how the market reacted to the UPS strike? Already drooping sentiment in the market if I recall, and that strike weighed on the market, even though UPS isn't a publicly traded company. What I'm getting to is the GM strike. Maybe it will be settled quickly, but maybe not. 115,000 workers sitting at home just isn't bullish. Not to mention the ripple effects. article on yahoo saying many railroads which are heavily dependent on the GM plants are being affected. Even if the overall economic impact is nil, the sentiment is not bullish.
Maybe it will all be settled over the weekend, but I read that even if it is, it will take until mid-July before all the plants are fully operating again. The metal stamping plant which caused all this has been on strike since June 5th. |
