Last week traders 'built-in' a $500 billion FED-induced stimulus they colloquially nicknamed QE3. Equity prices clawed back some lost ground. As a consequence gold-bulls got hung up by the meat-hocks as the herd swung wildly this way and then the other. Risk on! Mr Buffett helped himself to a plate-full of BofA and coolly made a paper profit of $1.5 billion in less time than it took to say 'clever Warren..'
Amusingly, from a macro perspective at least, nothing much had changed.
When Chairman Ben rang for lunch at Jackson Hole, famous for its fine cuisine, we were served instead of rib-eye steak only fortune-cookies; without much salt.. Unappetising fare and tears were shed! So we-was-robbed ...or were we? Breaking the cookie open revealed a lesson for us all - 'tread careful-like; ranching isn't a piece of cake..'. You'll agree, steak served medium rare would be fine but if we don't see to the farm the cows will run out and it would be the hunger-jive for us all.
Chairman Ben's got my vote. Let's fix the problem properly this time.
Amusingly, from a macro perspective at least, nothing much had changed.
When Chairman Ben rang for lunch at Jackson Hole, famous for its fine cuisine, we were served instead of rib-eye steak only fortune-cookies; without much salt.. Unappetising fare and tears were shed! So we-was-robbed ...or were we? Breaking the cookie open revealed a lesson for us all - 'tread careful-like; ranching isn't a piece of cake..'. You'll agree, steak served medium rare would be fine but if we don't see to the farm the cows will run out and it would be the hunger-jive for us all.
Chairman Ben's got my vote. Let's fix the problem properly this time.
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