Tuesday, September 23, 2008

Wait Mode

I think the markets are going to sit in wait mode. I am not doing any active trading until I can see what this government is going to do. I may use rallies to unload certain positions if I get a chance to do so.


I am not a fan of gold here. I don't see it going much higher unless we get some terrible news.

Berkshire Hathaway did a deal late today to purchase some of Goldman Sachs. It was looked upon very favorably in the after hours, and the other buzz is that Congress is not going to renew the ban on offshore drilling. This will be good for some of my favorites RIG, NOV, and DO. They were all being helped in the after hours by this news.

Make no mistake, this is one risky market and we will have more to say when things are a little more stable.

6 comments:

Dollar.Discipline said...

Buffet bought $5 billion of Goldman and gets a 10% return (that's 500 million for you non-math majors) in perpetuity!

He's basically called the shots with the government standing by to bail him out if it goes south.

Using the rule of 72, it will take 7.2 years for him to double his money by guarantee. No telling how much quicker when other folks jump in along with his windfall price setting of stock options.

He's the man. Of course who isn't when you can flush 5 billion and not blink.

Anonymous said...

see the comment on the previous 2 post

mr dollar contradicts himself

he says buffet is the man but he buys into the fear mongering of this website the schiff/paul followers

Dollar.Discipline said...

Anonymous, see previous post about having the guts to sign on and post your comments. It's easy to hide in a cave and throw rocks.

captain caveman said...

ok dollar here i am my handle is captain caveman

captain caveman said...

dollar

you made a great circular call yesterday what do you really believe do you believe in schiff with his gold calls? you keep saying the dow is going down but you are a buy and hold investor

i am a buffett style investor and have a 3 year minimum time horizon for my picks. that is why i am buying the banks right now.

tell us what you believe dollar and lets get a little challenge going here.

captain caveman will give you and any other gold bug that posts comments here a good lesson in investing At least it might make this website more interesting. it could use some help.

Dollar.Discipline said...

LOL! I can see you have a sense of humor with that username!

I have to hand that one to you.

OK, what's the challenge?