Thursday, February 28, 2008

Rick Santelli is Quickly Becoming my Hero

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I love this guy... one of the few people who actually speaks the truth. Check out this interview from this morning where he rips into a Kool Aid drinking bull.

Also, saw Ron Paul go off on Bernanke again yesterday - love it, 1 voice of truth ... sadly most of the other congressman and women probably have no idea what Dr. Paul is even talking about. Heck some of them don't even know where he worked before he came to the Fed... sad.

Last, as an aside, I notice Buffet will be on premarket CNBC Monday. You know what that means right? We will find a reason to rally as whenever Buffet speaks it means a bailout is around the corner. All you have to do is say "Buffet is sniffing around (insert troubled company name here)" and the whole market can party. Or he will make the bond insurers party. Or if he sneezes a certain way we can party. Or with a magic wave of his pinkie he can make all our problems go away. All I know is whenever he speaks, the market finds an excuse to find some sliver of hope in any phrase and call for a party. Remember about 4 months ago there was a rumor he was buying Bear Stearns.... about $30 higher of course. But if you drink the Kool Aid, you can make a rally out of a rumor. So once again late Friday I will have to cut back short exposure, with expectation that Kool Aid bulls will find any twitch in Buffet's face as a reason to buy.

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