Email to Investment Partner
“Unemployment claims were up big. Also Monster.com reported its index of jobs was down big (attached clipping on it below - listed backwards for some reason). This index has cratered since Oct. I think there is another big jobs report tomorrow. I cannot believe this market has rallied back like this. Also, a very interesting bit of info I found today in BMY’s earnings is that it took a big lose because of exposure to CDOs. A drug company taking a big lose because of investments in CDOs. I have been waiting for this with the Insurance companies, but didn’t expect it with others. It tells me that any big company with a lot of investments is exposed to asset write downs.”