Another grinding week in the markets. One thing nice about it is this: I just subscribe to the most basic Comcast cable package, so I only can get CNBC (no Fox Business or Bloomberg). And CNBC has been running its Europe offering late at night instead of the usual infomercials (not entirely, but some hours). Some of the programming is actually quite good and, from the sampling I've witnessed, superior to the American stuff.
With that observation, here are five items you might check out this weekend.
- Warren Buffett pens an op-ed in The New York Times on what he's buying. A bit: "I’ve been buying American stocks. This is my personal account I’m talking about, in which I previously owned nothing but United States government bonds. (This description leaves aside my Berkshire Hathaway holdings, which are all committed to philanthropy.) If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities."
- Jerry Flint laments in Forbes the prospect of General Motors demise. He still doesn't think it will go out of business, yet says bankruptcy may be a political decision. Ironic bit: "The newest GM cars can now hold their own with all foreign competition. I am talking about vehicles such as the Cadillac CTS, the Chevy Malibu and the Corvette ZR1 supercar. I predict the upcoming Chevrolet Camaro will be a winner, too. The "base" model Camaro promises decent fuel economy and a 300 horsepower V-6 as the standard engine. This is not a "'secretary's car.'" All that is true, and it will be unfortunate if it's not enough. (I'll add that I've never in my life been a Cadillac fan, but the recent models -- the CTS and DTS -- are fantastic, IMHO.)
- Roger Lowenstein is probably about, oh, a zillion times smarter than yours truly. On top of that, he writes extremely well and always produces thought-provoking copy. This piece in The New York Times about oil is fascinating, though I'm not sure if I agree with his conclusion.
- I know nothing about the long-term investment track record of Peter Schiff of Euro Pacific Capital. But I caught him several on Larry Kudlow's CNBC show months ago (if not longer) warning of the economic crisis. Much like Gary Shilling (though I don't know how much they agree or disagree generally). I've seen Schiff on TV more regularly of late, and the libertarian in me finds a home in his views regarding the current mess. He wrote a fine piece in the Washington Post this week.
- What would an Obama presidency mean for the average man or woman in Africa? And how would that differ, if any, from what it would mean for African governments? The respected journal Africa Confidential has an interesting consideration.
Have a great couple of days. See you Monday.
hmm... that's the first time I have seen anyone suggest a floor for the price of oil. Bizarre suggestion for Loweinstein...
Posted by: Sivaram Velauthapillai | October 17, 2008 at 11:21 PM
"Bizarre" is the perfect word, now that you say it.
Posted by: John | October 21, 2008 at 11:21 PM