Berkowitz: Deja vu
If you read Berkowitz’s interview with OID in 1992 and then watch this interview w/ WealthTrack, similarities are clear. It is amazing how similar the situations are. Although going against the crowd is always difficult in the short-run. Blinding comparing the situation in 1992 to 2011 would be foolish, without looking at what else is happening with companies and global economy, but ignoring the business cycles wouldn’t be smart either.
For disclosure, I’ve recently bought BAC warrants. The prices of the warrants are extremely cheap if you look at what this company can make in a normal business cycle. Also, we have 7 years for this ‘normal’ business cycle to return.