Still buying

Yes, the markets fell dramatically today. I think that this fear is quite crazy at this point. The new presidential Administration of Barack Obama has already made clear that they are not going to let the financial crisis become ridiculous. Effectively this is a promise of “whatever-it-takes” effort and eventual recovery. How can they promise this? The U.S. has many options, from increasing government spending (and concomitant borrowing), selling U.S. assets, legislating that banks actually stop sitting on their cash, printing money, etc. I know that it seems very scary out there, but as I said last week: Everything is on sale.

Furthermore, I know that you and I and many other people are not going to stop trying to improve their lives and the jobs that they do. That means that the economy will recover, even if Wall Street’s Institutional Investors can’t imagine it right now. I promise each of you that this is a once in a generation opportunity. That’s why I am still buying and trying to figure out how I can buy more.

Hang tough!

Jason