How the mighty have fallen…

Posted on Nov 20, 2011 by in Letters

The past six months have been one of the most turbulent experiences of our fifty years in the market.  The volatility, the false signals the naked mud wrestling (not co-ed).  It is no mystery to us why this is so.  Start with one of the historic bear markets fueled by two wars, a historic tax cut, a historic refusal to fund the wars, a historic refusal to take fiscal responsibility, a historic implosion of the housing market, historic unemployment, a historic refusal  to deal with the problem by a dysfunctional congress (except for their ability to make insider trades with impunity).

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