The Height of Power

The new growth area - Washington DC. The new Rome.
"For more than two centuries, it has been a wannabe among the great world capitals. But now, Washington is finally ready for its close-up. "
http://www.washingtonpost.com/wp-dyn/content/article/2009/01/23/AR2009012302310.html

Buffet Partnership Letters 1957-1970

Courtersey of Jeff Widman, I got to read all the originals. Those partnership letters are jewels. They outlined the thinking of Buffet in his earlier years - and he was already a mature master by the age of 25. If you want copies of these letters, here is the link to Jeff:
http://www.jeffwidman.com/blog/2008/05/10/warren-buffet-benjamin-graham-charlie-munger-shareholder-letters/

Happy New Year!

Borrow a famous line from Dorothy Parker, New Yorker's sermon to the faithful:
"You might as well SPEND!"
http://www.newyorker.com/talk/comment/2009/01/05/090105taco_talk_gopnik

Seth Klarman Interview

"What’s wonderful about Graham and Dodd is that their advice is timeless. And it is not just about investing; it’s also about thinking about investing. It basically teaches you the questions that you should ask, and it makes endless references to the foibles of human nature in the markets."

Here is the link:

http://www.alumni.hbs.edu/bulletin/2008/december/oneonone.html

Merry Christmas!

Tom Friedman calls for a reboot of America - but a society cannot be shut down and restart like your good old PC. A crisis is just what the doctor ordered. It will be a terrible waste if the crisis doesn't change anything.
http://www.nytimes.com/2008/12/24/opinion/24friedman.html?em

One thing is for sure - something have already been lost.
http://web.wenxuecity.com/BBSView.php?SubID=music&MsgID=439518

Keynes Moment

Minsky Moment brought out the moment for Keynes.
http://www.nytimes.com/2008/12/14/magazine/14wwln-lede-t.html

Race to The Bottom

Wal-Mart Employee Trampled to Death on "Black Friday":
http://www.nytimes.com/2008/11/29/business/29walmart.html?_r=1&em
It happened in Long Island - one of the richest place in the nation. Guess they are still trying to keep up with the Jones.