In the mean time its no suprise that Munger has lost all dignity as well since Berkshire was one of the biggest beneficiaries of the bailout as their biggest position was financials and heavy loaded with short put positions they made at least 10 bil. by the bailout.
Munger Tells 25 Million Americans To "Suck It In", And To "Thank God For Bank Bailouts" As BRK Benefits From $95 Billion Of TARP Funding
2. We also a rallyhave another myth being pushed forward which is if GOP wins congress that will trigger a rally? I rather think we are lining up for a severe correction to say the least. Although the recession was declared over by June 2009 officially yesterday ( what a blunt and pathetic lie) we are in still in the early depression mode as the almost dead patient gets drugged up and looks like he is alive and doing better. Most statistcal means will not work in manipulated markets as Sep. is the worst month usually - this year it has a spectacular bullish run. Apparently no coincidence as the biggest IPO in history takes place with many others waiting to happen these days. Last year Sep was also a bullish month - hence this statistical evidence is not worth a lot since you have to make money now. Apple is about to top out which is the top performer by fundamental and market means around 290-300 together with insane Amazon around 155-60 the next 3 - days which is a high correlation that all markets are about to see a correction of at least 5 % - but we have another 1-.2% to go on average before the correction starts.