Friday, November 30, 2007

Exciting week

I missed some fireworks this last week. Most ominous is the run on the Florida's school district investment fund. Considering Orange County, CA went bankrupt a few years ago, its nice to see that Orange Country, FL was able to get their funds out.

What really disturbs me is that the Florida fund managers also run the state pension plan. More to come on this.

On the plus side, the market had a follow-through day (IDB defined). I picked up some Mastercard and nibbled at Bidu. I'll have some breakout buy suggestions over the weekend.


Just reading through some of the articles. This is a MUST read!

``We're such a small school district,'' Wilson, 55, says. ``We don't have the time or staff for professional money management. They have lots of investment advisers. It's risk free and easy.''

Guess what. Florida isn't the only state that has tax payer money being run by amateurs. I'm sure we'll have plenty more of this action.

Bloomberg has more here.

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