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« Update on the Payroll Employment Number | Main | The Psychology of Fear »

March 02, 2007

Comments

Mukundan

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oldprof

Thanks for taking the time to comment, Venn. Due to my travels, I did not see televised discussions of this. I hope that the comments were clarified.

This sort of error is not something that has an instant market reaction. It heightens sensitivity on the part of some, and it has an effect if continually repeated. We shall see.

Thanks again--

Jeff

VennData

This is similar to the Business media - generally conservative - misinterpreting the Greenspan "There may be a recession line."

The guest-oriented format of most business shows meant that the misinterpretation was mostly corrected.

1) How many people would trade off the Buffet letter? I mean, really....

2) The market action is similar to the market action prior to the Buffet letter's posting.

3) Any pros, smart money, that read the letter would have known what it said. ) I read the letter. I knew what he said and I’m at best "100 IQ Money.")

4) Most people know The Oracle's too bright to make short term market calls.

So I doubt this was a problem. The conservative business media is always looking to rage about something Buffet's done. Remember the AIG swaps? They've turned up the media spin on Buffet ever since he started talking down the dollar, blaming - diplomatically of course – Bush’s debt-based economic policy. (And the fact that Warren Buffet’s a liberal.)

The WSJ has berated him every time the dollar index jumped, but to their chagrin... It looks like he made money on the trade.

I mean, who would you want managing your money? The Oracle? or the Wall Street Journal Opinion page? Not to mention who would you rather have dinner with?!

Throw this in with the blame-Greenspan rubish. They can't abide by the fact that maybe, just maybe things are slowing down.

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