It seems lately, each week we have had at least one major event that is an extreme positive. This week’s top spot was a major winner struck from a bathtub.
Warren Buffet Instills Confidence with his checkbook: In a similar sweet heart deal to Mr. Buffet’s Goldman Sachs and GE investments in 2008, while recently in the bathtub, Mr. Buffet had the positive idea of investing $5 billion into a public perspective struggling Bank Of America. We found most interesting Mr. Buffet’s comments, “Bank of America is a strong, well-led company, and I called Brian to tell him I wanted to invest in it” Thanks Warren for a great positive, this week!
Libyan Rebels take control of country: In a puzzling sudden change of control over the weekend, Libyan rebels took control of Tripoli and much of Libya. The immediate effect was stability for the country and the end of a long civil war like conflict. Oil prices immediately responded, as the overseas oil benchmark, Brent Crude began dropping which may provide a tail wind to overseas, and domestic companies growth prospects.
Near 6 point earthquake occurs without major damages: On Tuesday, according to geologists an unusually placed and rather shallow earthquake measuring 5.8 occured in the afternoon, reminding us all of the power of mother nature, but leaving no casualties behind. Compared to the Japanese event earlier this year, we can feel extremely lucky.
Housing Supply Stayed flat: While there was a slight slip in New Housing sales last month, the supply stayed flat, holding firm at 165k or approximately 6.6 months. If supply holds flat, with a slip in sales, it is possible to infer, when sales begin ascending continued burn off of extra supply may occur, boding well for the housing market.
Part D Medicare Benefit Cost Lower in 2012: In 2012, the drug portion of medicare, Part D will be slightly less than in 2011. In the spirit of everything counts, we think this is a nice positive.
We hope you enjoyed our nuggets of positives this week and you have a wonderful weekend. For those in the path of Irene, please be safe and we wish you a safe weekend.
Have a Good Day!
JK