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...March lows [6440 on the Dow], but I'd be very wary about chasing the stock market right now. We don't have many similar historical examples to look at, but in light of credit contractions and asset deflation, it should be understood that this is not a normal manufacturing-inventory recession. Nor was the 1930s. At that time, we bounced off July 1932 stock market lows, and three months later the market was up 70%. I can only imagine what the psychology was back then - "How can we have missed out on that rally?" Here's the kicker...
...rule of law also has defects less obvious to us. Suppose the law is bad, then the rule of law is the rule of bad law. Think of the law requiring Rosa Parks to sit in the back of the bus. And a good law, meaning good in normal circumstances, may not be good in an emergency, when the country is at war or under attack. It may not even be good in a special case in ordinary times; this defect requires what used to be called equity and is now called “empathy.” Moreover...
...going to win, so just relax. If it feels like work, you're running too hard." I just wish people would run two miles as if they were running 100 miles, because one thing that you will always see in ultra-races that you will never see in normal marathons are smiles. People are relaxed and enjoying the moment...
...years or more - could exceed $30 million. Picard's fees, they say, will likely be less than that, though it's impossible to know precisely how much less. So far, Picard has collected $1.2 billion in recovered funds, so even if his fee were half the normal bankruptcy trustee fee he would still pocket $15 million...
...barrel again - at least not during the coming decades. The U.S. Energy Information Administration said on Wednesday that oil prices would likely rise to $110 a barrel by 2015 and $130 a barrel by 2030. By that time the world oil markets might once again follow the normal rules of economics...