What a crazy week. The market continued its downward spiral while we hear all kinds of bad news from economy front: from the credit crunch for big guys and little guys; AT&T CEO says some customers can not pay the phone bills; American Express (one of Berkshire’s core holding) had it biggest drop since year 2002…
I also did something crazy (which I regret) this week. My biggest mistake is I sold some MR shares. Yes it did go up after I sold it, just like other stocks did in the past. I will try to buy back some MR shares in the near future because I believe its growth will not affect by the credit problems we are facing now.
Next week, I am eager to wait what the guys at Crocs and Ruth’s Chris Steakhouse have to say at ICR XChange conference. The link of webcast is here.
No, I don’t plan to buy RUTH stocks after I learned its recent acqusition of another restaurant chain. I am just curious how the company will get the loan of $94 m to pay for the buy out; and get a sense of consumer sentiment.