Dry Powder. . .
July 15, 2008
On Friday a friend of mine asked for advice on what sort of companies he should look to acquire. I suggested that he hold onto his cash until the current ’storm’ cleared. Today you may be aware that the DOLLAR HAS DROPPED TO A RECORD LOW. President Bush will be going on television today at 10:20am in an attempt to calm investors and restore confidence in our banks. My advice? Keep calm, but stay liquid.
