3/9/2009 SPX 676.53 DJI 6,547.05 http://www.bloomberg.com/apps/news?pid=newsarchive&sid=acmiX_sr8yuc&refer=home Benjamin Graham, the father of value investing and mentor of Buffett, would find most U.S. stocks expensive even after the S&P 500 dropped 56 percent in 17 months. The S&P 500 is likely to drop to 600 or lower this year as the global recession intensifies,Nouriel Roubini, the New York University professor who predicted the financial crisis Buffett ... told CNBC today that ... that efforts to stimulate recovery may lead to inflation higher than the 1970s.
Good post, Sir. Thank you Please go back to the granpappy of eras in recent memory, namely October 2007 - the TOP that came before YOUR quoted 2009 bottom. Quotes from 2008 included too The October 2007 pre-crash TOP: Behold the gurus of the financial world: Morgan Stanley's other famous Hi-So gurus and friends, Ben Bernanke & Henry Paulson from the October 2007 pre-CRASH top and their legendary anal-ysis: June 20th, 2007 – Bernanke: The mortgage debacle “will not affect the economy overall.'' July 12th, 2007 – Paulson: "This is far and away the strongest global economy I've seen in my business lifetime." August 1st, 2007 – Paulson: "I see the underlying economy as being very healthy," October 15th, 2007 – Bernanke: "It is not the responsibility of the Federal Reserve - nor would it be appropriate - to protect lenders and investors from the consequences of their financial decisions." May 7, 2008 – Paulson: 'The worst is likely to be behind us . . . . ” May 16th, 2008 – Paulson: "In my judgment, we are closer to the end of the market turmoil than the beginning." July 16th, 2008 – Bernanke: On Freddie and Fannie: “They will make it through the storm”, "… in no danger of failing.","…adequately capitalized" Only two months later both were nationalized. February 14th, 2008 – Paulson: (the economy) "is fundamentally strong, diverse and resilient."