All In Bet On America

  • Why is my net short position small? I have been burned too many times being short during this time of year.
  • Where do I expect this correction to go to? I don't know, but I want to move to a more neutral position by Thanksgiving.
  • Warren Buffett said his recent purchase of BNI was an all in bet on America. Looking at his portfolio he bought more Wal Mart and Nestle, while trimming more economically sensitive stocks. Seems pretty defensive to me.
  • Warren Buffett tried teaming up with Goldman Sachs to buy tax credits from Fannie Mae in an effort to find a loophole and avoid paying taxes. I suppose that was an act of patriotism as well.
  • China lectured the US about health care reform and how it will be paid for, as well as monetary policy. Say hello to our new masters.
  • The sad thing is they are right to be worried.


PJ said...

They all want something for nothing. China wants access to our markets at favorable exchange rates for her exporters, and fears a weak dollar and a US consumer starved by a voracious government. Buffet wants government subsidies for his businesses.

Tsachy Mishal said...

China wants to have their cake and eat it too. They want us to be fiscally prudent and for us to buy all their exports.