Richie

Cracks in the Wall Street Ice - Bull Run Coming To an End?

Shish,

No one anywhere is any good at predicting anything (Earnings, GDP, Market levels etc.)even six months ahead. Of what value is an assessment of when a bull market will end based on anticipated incremental employment levels at brokerage houses two and three years from now!!!

Last time I checked with Warren, he told me that markets cannot be timed by anyone. If this unsubstantiated conjecture is the best you have to write about, perhaps you have too much time on your hands.

Scott Black: Bullish on Brokers and Smallcap Ultra Clean Holdings

Hi Scott,

I know your philosophy is to scour the markets for deep discount value plays. The other day I heard you say on CNBC that the markets had been pretty well picked over vis-a-vis good companies with good balance sheets/financials that were at bargain prices.

I know at one point you liked Bronco which is mostly an on land gas driller. I wonder if you have ever looked at Hercules Offshore (HERO). It is a shallow water off-shore (Gulf of Mexico) driller that is currently in the process of buying its larger rival, Todco (THE).

Both companies have super financials and trade at P/Es of