In the face of a shocking fraud involving billions of investor dollars, and the failure of a bailout vote on the Senate floor last night, the stock market still traded up today by 64 Dow points.
I am nearing the end of a very mean year here for my fund, Hubbert Peak Partners LP. While I've spent most of the past three months with a 50% cash allocation, the declines in my energy stocks has exceeded 70% this year.
Just a few trading sessions left in the year, so I may be able to make up some lost ground, but I am very humbled. I've been forced to trade much more actively this year than I was ever comfortable doing in years past.
I cannot help but feel many people are still sleepwalking through today's economy. Few people seem to have a real sense as to how serious our country's problems really are.
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