With so much going on in the financial markets it is sometimes difficult to know where to focus and on what to concentrate. Fortunately today its easy because we only have to read Warren Buffett’s annual letter to his shareholders for a clear and concise analysis of what is happening and what has gone wrong.  A summary of this letter as well as a list of his top ten investments tips can be found at the Telegraph online and should be required reading for anyone wanting to succeed in this industry.

We should also pay attention to his recent statement that from a “common sense standpoint” the US is in fact in recession, even though the official figures have not yet confirmed this fact.     This week’s employment data starting on Wednesday with the ADP (which measures the change in number of employed people during the previous month, excluding the farming industry) and culminating on Friday with Non Farm Payroll numbers and unemployment rate will go so way to confirming whether Warren is right or wrong.

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