Here’s the Warren Buffett story. The kinds of stocks I own are mostly “special situations” — but make no mistake: in a bear market, everything goes down. So it’s arguably a mistake to hold stocks in advance of a bear market (except: what if you’re years early in selling, plus the taxes you might incur?). But it’s more certainly a mistake, and a more common one at that, to give up — or panic — at — or near — the eventual bottom, before the thus-far-inevitable recovery.
Here’s what Stephen Colbert had to say about Las Vegas. I have the feeling that he — or Jimmy Kimmel or Jon Stewart or Jane Pauley or Oprah — or you, esteemed reader — would make a far better president than the one the Russians selected for us.
Quote of the Day
Drill for oil? You mean drill into the ground to try and find oil? You're crazy.~Men Edwin L. Drake tried to enlist to his project to drill for oil in 1859
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