Everyone saw the headline: "Warren Buffet says 'Buy now'!"
While most took this as validation by the Oracle that U.S. stocks are now sufficiently cheap, NakedShorts brings up a point not mentioned by many:
"The usual suspects spun the ‘Buy America’ message for all it was worth. Nobody seemed to notice the other side of the memo: sell Treasuries. Which, thanks to the flight-to-safety trade, are perhaps the last bubble intact amidst the financial smeltage. With new supply aplenty assured."
Don't buy U.S. stocks. Sell U.S. Treasuries.
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1 comment:
Warren buffett recently hade some interesting things to say about housing
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