the other jihad
Posted by g.e. on March 10, 2009
Or how to find enemies and influence people
Bloomberg quoting Buffet:
Americans are fearful, confused and changing their buying habits, which is showing up at Berkshire’s operating units, Buffett said during an appearance on the CNBC television network today. U.S. stocks fell after Buffett’s comments, following the worst weekly slump in the Standard & Poor’s 500 Index since November.
I really hope people get it right this time. Before, it was about terrorism. And the whole world knows how that was ‘fixed’.
Other gems from the BB art:
Benjamin Graham, the father of value investing and mentor of Buffett, would find most U.S. stocks expensive even after the S&P 500 dropped 56 percent in 17 months. Graham measured equities against a decade of profits to smooth out distortions, a method that shows the S&P 500 trading at 13.2 times earnings, according to data compiled by Yale University Professor Robert Shiller. At the bottom of the three worst recessions since 1929, the average ratio fell below 10. To reach that level, the S&P 500 would sink another 27 percent.
