Thursday, July 03, 2008
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“Despite three years of falling prices, which have significantly improved the attractiveness of common stocks, we still find very few that even mildly interest us. That dismal fact is testimony to the insanity of valuations reached during The Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge.” -- Warren Buffett, March 2003
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3 comments:
What is the CRB index , Boon?
A commodity price index.
Whew.
Gold got taken out after the US jobs report which was at most neutral.
Trichet as usual did his duty and i must say the MSM is hard at work signifying that he won't raise rates anymore. This is pure spin.
Watched his speech, he certainly did not give any such signal.
Must conclude that if inflation rises again so will the EU rates.
The USD got a huge boost after that jobs report and not Trichet's announcement, lets see if it deflates when the news sinks in and they come back from the holidays.
Also noted that Paulson and the ratings agencies are training their guns on europe now. Funny how they jumped on UBS but did not bother about the monolines till only recently. Suspect a little tit for tat there.
One can conclude that things must be worse than they seem in these economies.
All considering, gold looks cheap.
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