On market sentiment and the subprime debacle

Last Friday, the video that kicked off Warren Buffett’s annual meeting began making the rounds, starring two British comedians and a pretty hilarious overview of the subprime mess and ensuing credit meltdown. See how how “dodgy debt” transforms into an “investment vehicle.” And the discussion of “enhanced leverage” is not to be missed. Sure, you could read today’s news stories about what Buffett said about the credit mess and where it’s going next, but we think this is infinitely more entertaining.