Earlie from Earlie:
A comment to all posters on this thread. If you read nothing all year long, please read Warren Buffet's letter to his shareholders. Aside from being the world's most successful investor, he is also one of the most honest and down-to-earth men I have ever read. His comments on the accounting scams reads much like what is posted here by many of us. His views on the current market are almost an exact copy of what is presented on this thread. His scathing disgust for the options scam that MB, myself, Fleck, Bill Parish and others have expounded on, is almost palpable. Something else that is enjoyable about Buffett's writing style is that it is both humorous and easily understood, something we all strive for.
I commend this to anyone who has exposure to this market.
On another topic, Boeing just announced another massive lay-off. I stopped counting a while back, but if I remember correctly, this brings announced lay-offs at Boeing to over 50,000. Each job loss at Boeing equates with 4 in related industries. The West coast economy is being further gutted. Anybody who thinks that the Asian crisis won't or doesn't impact the U.S. is living on Mars. Deflation at work.
Best, Earlie |
