Oct

17

laborMy surgical assistant often asks for updates on the stock market, especially lately with what's happened to her 201K (used to be 401).

"Big dip after the open, with a huge rally to the close. We're nowhere near the bottom because there is still too much speculative buying, and we won't get there until normal people stop talking about the market."

(Read it somewhere and wanted to impress her.)

A lady overheard this, and related a similar story about childbirth: She was exhausted after laboring for a few hours, and the doctor came in to check. He asked her to rate the labor pains on a scale of 1-10. "Eight or nine!" she said. "It hurts a lot!"

"You're nowhere near delivery" he said, "because when you get close you won't be able to answer my questions, or even hear them."


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2 Comments so far

  1. Nish on October 17, 2008 9:30 am

    Your observation seems qualitative to me, no different from what you hear on Yahoo Finance or Marketwatch .

    I am much more impressed by this article:

    Buy American. I Am. — By WARREN E. BUFFETT 

  2. Daniel on October 17, 2008 7:12 pm

    Monish, aka "Tanto," is getting smoked this year last I checked. Keep it up champ, WB is buying preferred with put options on them. He's not pulling a "Dick Whitney" on the floor of the NYSE.I haven't looked at your memorandum, but my guess is you won't be having lunch with the "oracle" anytime soon again.

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