Just in the past week or so Bloomberg has started using the "R" word, as in a recession is coming. I suppose this could be a contrary indicator but it's hard to see what could ignite a rally.
Long term, Buffett et al are probably right. But I'm guessing they're thinking 3-5 years out.
On Dec 4, 2007 3:47 PM, Doug Henwood <dhenwood at panix.com> wrote:
> So Warren Buffett bought some junk bonds, Soros bought some
> Countrywide, Morgan Stanely bought some houses and land from Lennar
> at 40 cents on the dollar. Meanwhile Will Durst, who is identified as
> a comedian, wrote a piece on how the US dollar's going to hell. Gotta
> wonder if this financial crisis is getting a little long in the tooth...
>
>