Miker1

Surviving the Financial Nuclear Winter

Sad but true, Roger. It strikes me more than usual lately how markets conspire to trick us, essentially because we're involved in what amounts to a battle of wits against all the other participants. "Buy low, sell high", we all think, just as many of us consider ourselves contrarians. But when does the low come? Just at the point of maximum pessimism, when we need cash the most. Gold (for instance) looks overpriced to us at $250 but cheap at $1,000.

I probably will raise some cash soon from my shrunken equity positions, but won't be terribly surprised later if that turns out to have been an ideal entry point for new buyers.

The last month or so has taught me to be a little more humble about my opinions, and I suspect that I am not alone in that.

Size Alone Won't Be Enough for Transocean

I think "ocean-dwelling leviathan" would be a better fit than "ocean-dwelling behemoth", but I'm nitpicking on that one, I do appreciate the article.

As for the stock, the fact that Boone Pickens recently decided to unload RIG says it all for me, I wouldn't try to out-think that gentleman.