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Obama's Return to Health Care: A Lack of Diversification

It's not usually a good idea to put all of your money into one stock. Unless, perhaps, you're Warren Buffett and know what you're doing.

Or if you're buying Berkshire Hathaway (a closed end fund in all but name). And are counting on Warren Buffett to know what He is doing.

But President Obama is doing just that  with his renewed attempt at passing health care legislation. And he's no Warren Buffett.

A former boss once taught me to distinguish between the important and the urgent. Health care reform is important. But it is not "urgent" at this time (financial and housing reform are).

And whatever its merits, the American public doesn't like OBAMA's version of health care reform. They showed that by awarding Ted Kennedy's former seat to a (formerly) unknown Republican.

"Chasing his bets" this way is not the behavior of a good investor. Instead, it is the behavior of a gambler who has gone "on tilt," after to losing money and is determined to try to win it back, even with the likely result of losing what he has remaining.