It's not easy to remain optimistic in this environment and with today's news, even Berkshire Hathaway lost more than 10%, but my own circumstances show there is a light in the darkness. I'm not sure why, but salvation often comes at the last possible moment.
In market-speak, the market turns after capitulation. I thought we had seen it already, but perhaps we are a day or two away. I move back to NYC on Friday, so if I am really the Oracle of NY, it would make sense that Friday will be the market bottom. It's all upward from there. (On the other hand, the last time I moved to NYC was 48 hours before 9/11.)
On Sunday, I fly to Omaha for Thanksgiving and to offer the Oracle of Omaha my support. He is not wrong. The market is wrong - and eventually should correct itself!
However, if we do fall through the bottom, take a deep breath and think about what really has value. The air is free and will remain so for the foreseeable future.
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