Chat Room Open at 8AM

I was pleased to see several old friends in yesterday's chat. We looked at BIDU and other early movers, which I plan to do every morning. Drop in today if you get the chance, everyone's welcome!

Reading Roundup - Dreman Says Don't Overpay, Value Investor Role Models, The Stalwart Capital Spectator, Teaching Ninth Graders

Articles I've recently read with my comments in italics, and other miscellany:

Dreman Savors Wall Street's Lemons, by Herbie Lash.
["There's no question that people saw the excitement of the Internet, or how important it would be. There was absolutely no question they caught it right in the late 1990s. But they paid far too much." {emphasis mine} You mean paying $125 a share for Ariba was too much? -sigh- ... {On analysts' reports:} "I read the reports, and use the recommendations as kindling for your fire. If you try to make money on them, you lose what you have fast." Right, just strip the data out and toss the text. via vinvesting.com]

Value Investor Role Models
[This is an excellent post from a now-defunct blog ... it's a mystery why this site just stopped, and a shame considering its very honest and amusing "About" page.]

Speaking of blogs, I discovered one this weekend called The Stalwart -- looks promising, check it out. I also noticed that Jim Picerno at The Capital Spectator has left blog*spot and done a very nice site redesign.

I have started a new charitable project: teaching English a couple hours a week at a "key" middle school here in Beijing. "Key" schools used to be places where only smart kids could get in (the Chinese test like mad -- you have to with a billion people), but now they accept rich kids whose scores aren't so great, which is kind of a shame. (There are still more poor smart kids than rich dumb ones -- the balance hasn't shifted yet, thank god). Anyway, my first day facing 48 chattering ninth graders for an hour was such a shock that I'm still in a daze. I think I may have made a terrible mistake. ;-)

Light Sweet Crude - You Don't Tug on Superman's Cape

If you've been looking long in Crude off the 30-minute chart since September 2nd, then you've been spitting into the wind. Jim Croce understood the foolishness of countertrend trading.

Light Sweet Crude, 30-min. Chart