Sunday, October 19, 2008

The Big One



















Forget about the other endorsements. Forget about John Kerry, John Edwards, and even the shows of unification from the Clintons.

This is the big one.

This is a Republican. And not just any Republican, but a Republican who has been by any standard the brand for the past few administrations of foreign policy and military credibility. He's a man who clearly speaks for himself and stands up for what he believes.

While I disagree with his endorsement of Senator Obama, I have enormous respect for General Powell. And I relate to him not only as a moderate, but as someone who can separate from party to support and endorse based on matters of conscience.

Where I found his endorsement wanting was highlighted in his conclusion regarding the inclusion of Ayers as an issue in the campaign. The issue is not whether or not William Ayers is or was a terrorist, and any assertion that Obama is by default also a terrorist is a strawman. The issue is one of Senator Obama's truthfulness, which in this case, is found wanting.

I also disagree with his conclusions regarding Governor Palin's lack of readiness for the position of Vice President, since I see her as equally qualified as the top of the Democratic ticket. Unfortunately, it's difficult to raise charges of misogyny or any other form of class discrimination in a year that racism will be the rallying cry. An electorate which has been clamoring for "one of them" really doesn't want one of them. It wants smooth and debonaire, even if dishonest.

My third disagreement with the Powell endorsement centers on his conclusions based on observations of the two candidates during the economic crisis. The "Obama was a steady hand" and "McCain was erratic" story is one that doesn't match with the facts. It only illustrates that the Obama campaign has more money and more resources, and more happy pockets in the media, to advance its own storyline. The Obama strategy was one of stealth and conniving. The McCain response was one of self-sacrifice. Whether or not either was well equipped at that point to assist much in the crisis, the fact is that Senator McCain felt it was important enough to do that. While Obama criticized him for that from the sidelines, he was plotting behind the scenes to put forth a big switch on the American people.

For those three things, I disagree with General Powell's conclusions enumerated in his endorsement.

But I respect his willingness to buck his own party, and even his powerful endorsement of the current administration eight years ago at the RNC, and stand as a moderate who votes his own conscience and is willing to take the hits to do so.

Friday, October 10, 2008

New Stock Market Terms















CEO - Chief Embezzlement Officer.

CFO - Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an
investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids
get no allowance, the wife gets no jewelry, and the
husband gets no sex.

VALUE INVESTING -- The art of buying low and selling
lower.

P/E RATIO -- The percentage of investors wetting their
pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your
stock.

STOCK SPLIT -- When your ex-wife and her lawyer split
your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been
disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW-- The movement your money makes as it
disappears down the toilet.

YAHOO -- What you yell after selling it to some poor
sucker for $240 per share.

WINDOWS -- What you jump out of when you're the
sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's
now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use.

Thursday, October 9, 2008

Buffett on Palin

When a total economic calamity meets a hotly contested presidential race, all one can do is turn to the Oracle of Omaha to see how he views the opposition. Well known for supporting Democratic candidates generally (he openly supported both Hillary Clinton and Barack Obama in the primary), I wondered what Warren thought of McCain's choice of running mate, Governor Sarah Palin of Alaska.

Wonder no more. The Wall Street Journal caught up with him throwing the opening pitch to Jack Welch recently and got his take on the Alaska governor.




Also noteworthy is this video from a couple of years earlier, when the world's smartest investor is sending congratulations to the newly elected Sarah Palin:




The markets might still be in turmoil, and tumbling, but it calmed my own nerves somewhat to see that Buffett believes we have an embarrassment of riches in both political tickets this season.