Travel Log and the Market Turmoil

I came back from a fourteen day trip to China and North Korea and touched down in Singapore last Sunday. To my amazement, Lehman Brothers has filed for bankruptcy. Fannie May and Freddic Mac have been nationalized and AIG has been bailed out by the US Treasury.

I don't think there is much point in harping on how crazy and nutty the financial market is right now. I will just point out that since we are going to start work soon, the bear market is a god-sent to us. I am busy trying to accumulate cash. When the dust settles and markets eventually recover in the long run, people who buy into the market at the point of maximum pessimism will get filthy rich.

Be greedy when others are fearful and be fearful when others are greedy.