There is a storm coming, and it hasn't hit yet.
The two smartest investors I've met in my life are Prince Al Waleed of Saudi Arabia and Warren Buffet...last January, Al Waleed bought into Citibank...he bought in at $30, and thought...he got the bargain of a lifetime. Citibank today: $4. Six months later, Warren Buffet was patient...and there's no smarter investor than Warren Buffet. He bought into Goldman Sachs at $150. Goldman Sachs today? In the 50's, high 40's. So, you have to say to yourself, somethings going on that the smartest investors in the world didn't see...
Your grandmother's investing wisdom doesn't necessarily apply right now.
The next Secretary of State, and the next President will be managing weakness, not strength.
(Previously, in post-Communist Russia and post-Tienamen China), we were strong and they were weak.
Managing weakness (overseas) while we are also weak will be a particular challenge for the next
Secretary of State.
-Thomas Friedman on Fareed Zakaria GPS 11/24
