Friday, March 05, 2004

Weak Jobs Data

The jobs number was weak (very few new jobs were created last month), so bonds and homebuilding stocks roared today in anticipation that interest rates will stay low.

By the way, for those of you with an economics/business bent, Warren Buffett's annual shareholder letter will appear on the Berkshire Hathaway website tomorrow at around 9 AM. Over the years, the publication/release of Buffett's letter has become an annual event in the business world. Buffett's letters are more than simply commentaries on the holdings and performance of Berkshire Hathaway. They often contain (folksy) pronouncements on the economy, including corporate governance; and they have been known to move markets on occasion. The equity analysts at Morningstar, the famous mutual fund rating service, are very much enamored of Buffett's approach (and that of his teacher, Benjamin Graham) to stock-picking; and they also await the letter eagerly.


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