Is Buffett showing signs of aging (in terms of performance, that is)? His Berkshire Hathaway saw net income drop by 8% this quarter. According to the company, newly acquired Burlington Northern added to the bottom line. The drop was caused by paper losses on their derivatives portfolio.
http://finance.yahoo.com/news/Berkshires-3Q-net-income-apf-2853681267.html?x=0&sec=topStories&pos=1&asset=&ccode
Positive jobless data helped broader market equity prices increase. The Unemployment Rate remained unchanged at 9.6% and we added to payrolls by 151,000. The dollar also rose, and treasuries fell. However, not all data was positive as pending home sales fell for the month of September.
http://www.bloomberg.com/news/2010-11-05/u-s-added-151-000-jobs-in-october-exceeding-forecasts-unemployment-9-6-.html
Bill Fleckenstein and Barton Biggs go toe-to-toe on the issues involved in QE2. Interesting quotes from the video include "Easy money gets markets up, but easy money doesn't necessarily solve the problems" and "Quantitative Easing is Clueless". The video is really good and very informative. Check it out.
http://dealbreaker.com/2010/11/bill-fleckenstein-would-like-an-answer-from-bloomberg-anchor-betty-lui/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+dealbreaker+%28Dealbreaker%29
Kevin
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