Lewis finds at the heart of the economic crisis nothing less than a moral and intellectual breakdown from the very beacons of western civilization.
I am comfortable continuing with my 100% cash position at this time, pending a clearer view of earnings prospects and a possible improvement in my sentiment indicators.
I was recently asked to explain my selling methodology. Let me highlight a couple of points on this topic.
Is there buried treasure in your back yard? There could be if you live in northern North Dakota or Montana. For the rest of us, there are these stocks.
Buffett discusses the recently announced stock buyback at Berkshire Hathaway, how Wall Street bankers feel about President Obama, and the economic picture.
The core forces that were at work for the last 12 months haven't changed and should reassert themselves once these big hedge funds have been blown out of this market.