One Year After the Meltdown of 2008
This is a time for active management. It is a time when it is critical to understand what we own, and what is happening to those businesses.
Fear defined us in 2008, and just like the wise master counseled a long time ago in a galaxy far far away,
fear has led to anger.
Lehman Brothers is no more. AIG has become a ward of the state. There are no longer any big independent
Wall Street investment banks. The market has crashed. Madoff stole a record $50 billion. Etc.
Like Democracy, capitalism is not perfect, but it is the best system we have.
