Letters from several giants of Wall Street, turn up this week. One of the benefits of not watching markets too closely is that you get time to read a lot of thought-provoking material.
a) Buffett’s (HERE) touts book value as an indicator.
b) Grantham who quotes Shakespeare several times and wonders about capitalism (HERE). At about $100 billion under management, his funds are about half the size of Berkshire.
c) Bill Gross at PIMCO (HERE) wants to play defense.
Some sign of market weakness today, but I am not buying (either the weakness or any stocks). Although Gold does look overdone.