margin explosion, page-49

Well looks like om eating custard this morning....sold the put too. Early and got the downside target wrong,,,damage manageable thankfully,,,,noticed immediately preceeding the obama press conference the market stress ramped up till it got smashed down 605, good recovery back to about 300 down when the selling started again...

Not sure what s and p are doing with their downgrade of bank debt? Fannie and freddie etc Didnt quite understand it but banks in usa smashed, higher cost of funds in usa resulting in probably less earning........thats ok but the big downgrade to negative watch of. Bershire was a total suprise,,,,,even with its no debt, billions on hand and 74 pc rise in profit you get an s and p downgrade,,,, if i follow that rationale that would mean oz has to get downgraded

Interesting times,,,,,,lets see how many times swanny says strong,fundamentals, evny of the world today as he no doubt will come out with another big press conference today.....anyway back to custard for breakfast,,,,,,,