Monday’s edition reluctantly touches on the debt ceiling, has a link to an attack against Carl Icahn saying he destroyed Yahoo (YHOO) and Motorola (MMI), follows up on the fake Apple (APPL) store in China, and has a few picks from a value shop out in California that includes Wal-Mart (WMT), Disney (DIS), and Chesapeake Energy (CHK). Finally, we close out with a Buffett quote that could describe the debt ceiling debate, the crisis in Europe and, really, the stock market this whole year.
We had a big up and then down and then slightly down day today. The announcement of a debt ceiling agreement among Congressional leaders last night caused markets to skyrocket at the open. They were then hurt by economic indicators that say the economy has significantly slowed. Pain continued with bad news from Europe, before ending the day only down somewhat. The Congressional votes will come tonight and the President will sign the bill lifting the debt limit soon thereafter. Immediately after, Democrats will call for higher taxes on hedge fund managers. Continue Reading »