I work out like a fiend so my arteries should be very clean, and supposedly the Wagyu/Kobe beef (which is excellent BTW) contains the “good” fat. Just bought some at Seaside market in Cardiff the other day.

Barring a recession, a Dow at 11,000 would offer some screaming deals. 95% of my equity positions are for the long haul, but I have some cash waiting on the sidelines if things really get out of control. Heck, the PE of the SP 500 is barely above historical averages.

As for this debt bubble, I am more and more wary of the financials because I just don’t know what earnings are real anymore. If they can’t even figure out what the products they are selling to insitutional investors are worth how can we value the company? Smells like Enron. I’d like to hear Warren Buffet’s take on the credit markets. A few years ago I woke up (literally at night I had an epiphany)and asked myself “why am I trying to pick stocks when BRK offers you what is essentially the best mutual fund of all time?” I bought BRK the next day. Hopefully he’ll live until he’s 100 and BRK’s performance will stay steady as she goes.

I think the rest of the market is being thrown out with the bathwater until this credit situation improves. The Wall St. guys number one objective is to make money for themselves so if they are feeling pinched they’ll find a way to pinch the rest of the market.