THE financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.
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This description leaves aside my Berkshire Hathaway holdings, which are all committed to philanthropy. If prices keep looking attractive, my non-Berkshire net worth will soon be percent in United States equities. A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. These businesses will indeed suffer earnings hiccups , as they always have.
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But most major companies will be setting new profit records 5, 10 and 20 years from now. What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over. A little history here: During the Depression , the Dow hit its low, 41, on July 8, Economic conditions, though, kept deteriorating until Franklin D. Roosevelt took office in March By that time, the market had already advanced 30 percent. The market hit bottom in April , well before Allied fortunes turned.
Again, in the early s, the time to buy stocks was when inflation raged and the economy was in the tank. Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president.
Yet the Dow rose from 66 to 11, You might think it would have been impossible for an investor to lose money during a century marked by such an extraordinary gain. But some investors did. Related pictures: " Doomsday Myths Debunked. It's true that the so-called long-count calendar—which spans roughly 5, years starting in B.
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That day brings to a close the 13th Bak'tun, an almost year period in the Maya long-count calendar. But rather than moving to the next Bak'tun, the calendar will reset at the end of the 13th cycle, akin to the way a s automobile would click over at mile 99, Did the Maya like period endings? Yes," Saturno said. You bet. The biggest period endings they experience are Bak'tun endings. Instead, for the Maya, the end of the long count represents the end of an old cycle and the beginning of a new one, according to Emiliano Gallaga Murrieta, the Chiapas state division director of Mexico's National Institute of Anthropology and History.
Written references to the end of Bak'tun 13 are few.
In fact, most Maya scholars cite only one: a stone tablet on Monument 6 at the Tortuguero archaeological site in Mexico's Tabasco state. Take a Maya quiz. What exactly the tablet says, though, is a mystery, because the glyphs in question are partially damaged.
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Nevertheless, scholars have taken several stabs at translations, the most prominent in by Brown University's Stephen Houston and the University of Texas at Austin's David Stuart. Houston and Stuart's initial interpretation indicated that a god will descend at the end of Bak'tun What would happen next is uncertain, although the scholars suggested this might have been a prophecy of some sort.
This analysis was picked up "on many New Age websites, associated forum discussions, and even a few book chapters" as evidence that the Maya calendar had predicted the end of the world, according to Stuart.
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Houston and Stuart, however, independently revisited the glyphs recently and concluded that the inscription may actually contain no prophetic statements about at all. Rather, the mention of the end of Bak'tun 13 is likely a forward-looking statement that refers back to the main subject of the inscription, which is the dedication of Monument 6.
In an October blog post about his conclusions , Stuart makes an analogy to a scribe wanting to immortalize the New York Yankees' sweep of the Philadelphia Phillies in that year's World Series. If this writer were to use the Maya rhetorical device thought to be in Monument 6's inscription, the text might read:. It happened 29 years after the first Yankees victory in the World Series in And so 50 years before the year will occur, the Yankees won the World Series.