We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are

Life, Liberty and the pursuit of Happiness.

That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed,

Friday, November 10, 2006

Comment of the Day

Courtesy of Stansberry and Associates:

“He’s demented… he’s making comparisons between apples and elephants,” said Charlie Munger at this year’s Berkshire Hathaway meeting, when asked about Wharton professor Jeremy Siegel. Siegel, who calls himself the “Wharton Wizard,” has added global warming to his dubious list of theoretical phenomena, alongside stock-market efficiency.

The “Wizard” says that if global warming continues, “the earth will be as warm as it was 3 million years ago when the seas were between 15 and 35 meters higher than today....” My question to the “Wizard”: How many SUVs were on the road 3 million years ago?

Warren Buffett once commented that he should endow a dozen finance professors… so that folks would continue to believe that the stock market is efficient.

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