Being patient is boring, probably even more so for any readers of this blog.
Not much that looked interesting in terms of risk/reward. If I had to guess, I'd guess the stock market has another bear leg down in it, but I don't have much idea as to the time frame.
Warren Buffett increased his stake in BNI Burlington Northern, being exercised on puts sold at $75. Someone like Buffett almost has to buy on the way down, because if he tried to play the momentum game, his size would make it impossible to get in or out.
I've started reading the book "The Snowball." It is a thick book, and interesting in parts, slow in others. Buffett was a "prodigy" at business, making more at age 17 than most of his high school teachers.
Buffett's investment philosophy is real simple, look for businesses that are easy to run, that have a clear advantage that is hard to replicate, and that is selling for below its true value. Simple in theory, hard in practice, when there are thousands of other very intelligent people looking for the same ideas.
I was surprised to learn that Buffett's dad, Howard, was considered an arch-conservative and a strong supporter of the gold standard, and believed that the U. S. government was sure to default in the near future. The gold stuff obviously didn't rub off on the son.
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