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Buffett's Biography: Is Goldman Sachs the New Salomon Brothers?

I suggest you read " The Culture of Success" to learn how Goldman has navigated 100 years of ups and downs to help you put the current situation in context.

Also, you can read the " Intelligent Investor" . One of the chapters trace the ups and down of 4 different businesses over a period of time.

My opinion is that all businesses are cyclical. The cycle presents an investment opportunity for investors with a time horizon that exceeds the daily newspaper headlines.