Archive - May 2012 - Blog entry

When inflation isn’t particularly hot, it’s praised as something desirable....

First we take Manhattan, then we take Berlin...

"I don't know why anyone would ever want to own a financial stock personally"

It is not a question of whether a country preserves the value of its currency. It is whether the currency has helped to promote the business within that country. Business is the objective not the preservation of value. A currency that is sufficiently elastic for business may not hold its value relative to gold. That does not make it a bad currency. Indeed, I see one of the big problems with EMU as being that countries are undergoing all sorts of pain to preserve a currency while that currency is doing nothing for them but causing them pain. EMU has it backwards. Setting an economy up on gold might preserve the currency values but might do it at a cost of growth and higher unemployment. How is that good?

 I am back from Buffett’s Omaha.  Every year I come back feeling supercharged for the year ahead.  This year was no different.  From morning till night I had the pleasure of sharing and debating ideas with investors from all over the world.  Though I did not plan it this way, the first day I had dinner with value investors/friends from the UK, on the second from Germany, and on the third from Spain.  I have at least a dozen stock ideas to research and new thoughts to process. 

What's $2 Billion for Ben Bernanke's Chosen Son?

This is serious folks...

Blew my mind!

All you need to read.

As either taxpayers or long-term JPM investors, we should be more grateful than sorry about the JPM CIO Ina Drew.

Just in case you are wondering what they are up to...

Over the weekend it was announced that California’s large $9 billion budget deficit was no longer $9 billion but $16 billion.  Whoops.

If you "buy the f---ing dip" make sure you "sell the f---ing rip".

Out of money and in the red, but with revenue projections out the wazoo

Beverages are not advisable...