Three months ago, the New York Times published an op-ed piece written by Warren Buffett entitled “Buy American. I Am.“  It made sense and was pretty straight forward, but was he right?
Before I answer that, take a look at my original post from 10/17/08:

This morning’s New York Times ran an op-ed piece entitled “Buy American.  I Am.“  The author is none other than the legendary Mr. Warren Buffett.
The piece was laced with quotables.  Below, you will find a list of those quotes, followed by my opinion on each. :)
Buffett: “I don’t like to opine on the stock market, and again I emphasize that I …read more

The FOMC did just what investors predicted by cutting the target rate another 50 basis points. 

The FOMC’s statement included the expectation for inflation to moderate in coming months, noting that the government’s recent actions have improved credit conditions, but “intensification of financial market turmoil” is likely to exert additional spending restraint as downside risks to growth remain.  No word on what those risks are.
The FOMC went on to say that business spending and industrial output have weakened and slower foreign economies will hurt prospects for U.S. exports.
Although the rate cut was what most people wanted (and received via a unanimous vote), is this really good news?
The Fed’s …read more

The Dow jumped 889 points today, the second largest increase ever…and I don’t want to sound like the soothsayer, but beware the 900 point pop.

I know the market has been hammered and I know that many are factoring in an expected 50 basis point cut tomorrow from the Fed, but this makes no sense.  The Dow’s gain doubled during the last hour of trading. 
Financials led the Dow higher while techs led Nasdaq’s 9.5 percent jump.  Take a look at the price gainers list for each exchange: NYSE and Nasdaq.
Citigroup up 15 percent, AIG up 35 percent.  Moves like this are too big and too irrational to be …read more