THE BUFFET
Markets have cleared the 1,500 level and the next target looks to be the 1,527 area, the prior closing high on the SPX back in March of 2000.
Market internals have improved and are now green on both the NYSE and NAZ.
Trannies, airlines, internets, techs and defense continue to lead while gamers such as LVS MGM and WYNN continue to trade lower.
Earlier in the day there was a "discussion" about the merits of splitting BRK stock so that smaller investors could purchase shares. I thought the whole subject pretty nonsensical for if one wants to own a big chunk of BRK, buy FAIRX, a mutual fund with a terrific long term record run by Bruce Berkowitz. According to the most recent documents, about 17% of its assets are in BRK shares.
And speaking of great investors, how about what Michael Price said about DJ yesterday:
Dow Jones & Co. may fetch $100 a share in a takeover, said Michael Price, whose mutual funds were among the industry's best performers during the 1980s and 1990s. "This is a trophy,'' said Price, whose MFP Investors LLC owned 351,000 Dow Jones shares as of Dec. 31. "This could be a $100 deal.'' Rupert Murdoch's News Corp. yesterday offered $60 a share for the owner of the Wall Street Journal, Barron's and Dow Jones Newswires.
The bid, 65 percent above the previous day's close, was rejected by Bancroft family members who control more than 50 percent of the voting power at the New York-based publisher. "Rupert will meet with the family over the next month, he'll schmooze them,'' Price said in an interview today in New York. ``He'll smoke out other bidders.''
Just food for thought and I continue long DJ as I expect other bidders and higher prices.
Market internals have improved and are now green on both the NYSE and NAZ.
Trannies, airlines, internets, techs and defense continue to lead while gamers such as LVS MGM and WYNN continue to trade lower.
Earlier in the day there was a "discussion" about the merits of splitting BRK stock so that smaller investors could purchase shares. I thought the whole subject pretty nonsensical for if one wants to own a big chunk of BRK, buy FAIRX, a mutual fund with a terrific long term record run by Bruce Berkowitz. According to the most recent documents, about 17% of its assets are in BRK shares.
And speaking of great investors, how about what Michael Price said about DJ yesterday:
Dow Jones & Co. may fetch $100 a share in a takeover, said Michael Price, whose mutual funds were among the industry's best performers during the 1980s and 1990s. "This is a trophy,'' said Price, whose MFP Investors LLC owned 351,000 Dow Jones shares as of Dec. 31. "This could be a $100 deal.'' Rupert Murdoch's News Corp. yesterday offered $60 a share for the owner of the Wall Street Journal, Barron's and Dow Jones Newswires.
The bid, 65 percent above the previous day's close, was rejected by Bancroft family members who control more than 50 percent of the voting power at the New York-based publisher. "Rupert will meet with the family over the next month, he'll schmooze them,'' Price said in an interview today in New York. ``He'll smoke out other bidders.''
Just food for thought and I continue long DJ as I expect other bidders and higher prices.
posted by DAVID at
11:30 AM
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