"Larry Jaques" wrote in message
...
On Sun, 23 Mar 2008 20:26:22 -0400, with neither quill nor qualm, "Ed
Huntress" quickly quoth:

snip

In the interim, what do you think about Warren Buffett's
Chairman's Letter to Berkshire? Interesting, oui?

I hadn't read it, and I've still read only a couple of pages, but Buffett is
always refreshing to read. I hope he keeps it up for a long time.

I really like the
Stumpf quote as well: "It is interesting that the industry has
invented new ways to lose money when the old ways seemed to work just
fine." from http://www.berkshirehathaway.com/2007ar/2007ar.pdf

LOL! Yes, that was a good one.


OK, I'm reading the letter now. Do you feel that Greenspan was wrong
all this time? Now that I see (portions of?) what happened, I'm
surprised that we never heard cautions from him. Or was that just the
pick-'n-choose media's output? Does not compute.

I'm getting the impression that a lot of economists and finance experts
thought that Greenspan let a lot of things slip by him that he shouldn't
have. But I'm in no position to evaluate it. We know in hindsight that some
of his decisions worked out very badly, but how good they were at the time
he made them, I have no idea.

Hindsight is easy. Economic theories always look better if they're based on
things that happened in the past -- until the future catches up with them.
It's like what you've read about climate models.


Yes, that one being so juicy, please email the other 9 post haste.
Danke.

I sent off four so far, but I think I repeated one of them to you. Sorry.
I'll get the rest out shortly.

--
Ed Huntress