Bittter Is Always More Bitter

Bitter is always more bitter than the sweet is sweet....said a famous hockey coach to us over the weekend. When he asked us, "what was your most memorable hockey moment" most of us answered a bitter loss.......hockey players like to win....all the time...as a team. They hate to lose maybe even more than they enjoy winning.

Like America today, the people have rallied and sent a strong signal to wdc, llc...enough.....no more excuses, no more apologies, no more amateur hour, no more I'm sorry, no more debt spending....America/ Americans are winners period.

The change in control back to the people has begun....the improbable but not impossible has happened with Massachusetts.

In 2009, oil imports to China reached 204 million tons and they produced 190 million tons. So for the first time China imported more than 50% of their energy needs. This a big deal....and now their car sales are exploding....in fact current automobile factories can't keep up with demand. America imports 60% of our crude oil needs.

Year to date: The S&P 500 is up 1.88%. Apple is down 2.3% Google is down 6.4%....last years leaders. JP Morgan is up 4.9% Wells Fargo is up 4% Bank America is up 8%...last years biggest laggards....and still they are the most shorted, under owned hated equity class....financials....and least expensive. Last year growth outperformed value by more than 1,700 basis points, a variance not seen in 30 years. Oil and financials should out perform in 2010....they are inexpensive.

The WSJ correctly pointed out this weekend the challenges long term to have ones investments outperform.... after all transaction fees, taxes, inflation, currency devaluation and management fees.... we agree...the stock market is down 1.4% from ten years ago! Stock picking and astute portfolio management is very hard to find in today's world.

Danny Boy seen here staying warm....and focused...he knows value when he sees it.