Thursday, August 16, 2007

Rome is burning.

I'm sitting in my very last class of the summer term. I finished my term paper 20 minutes before it was due. I'm supposed to be listening to presentations, but instead I'm watching the stock market crash. You should hear the investors. The markets are in an outright panic. Blood in the streets. The DOW is down 10% in the past month. You're about to watch $1 trillion disappear as the Japanese Yen takes off against the dollar, so I guess I'd be worried too if I were in the right (that is, wrong) industries. Luckily Warren Buffett warned 20,000 people about the liquidity crisis at my very first Berkshire Hathaway shareholders meeting in 2003, and it's here. I believe his words were "yelling fire in a crowded theater. Not everyone is going to get to the exits."

I've scheduled a new stop in Manhattan tomorrow. I'm going to the NYSE to watch the fun. When you're 80% in cash you can enjoy watching everything go on sale.

3 comments:

Anonymous said...

Some of don't have an 80% position in cash and this is painful. PAINFUL. I probably won't see you in London.
Love,
Sandy

Anonymous said...

that is sooo not fare ricky!! you put carissa on the front page but not me!!! WHY NOT? :(

Anonymous said...

the message that said it isnt fare is 4rm brieanna