Be fearful when others are greedy


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“Be fearful when others are greedy and greedy when others are fearful,” says Warren Buffett.  The market is making new highs today following Bernanke’s announcement that the Fed will not jerk away the punchbowl – any tapering of stimulative bond purchases will be gentle and gradual.  Recall Gold Leaf’s current investment thesis – namely, that the stock market’s unbroken run has been based upon this Fed largesse and not company fundamentals.  Now is the time to trim your equity exposure.

Mr. Rodgers, CFA, has been managing money since 1988; his blogs and newsletters can be found at

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