Buying the dip

Did couple of careful buys. Yesterday bought a little bit more of Banco Bradesco, today, a little bit more of Phillip Morris International. Market is really scary. That's exactly the time to buy (I hope).

I'm tired of talks about energy, alternative energy, future energy, peak of oil, etc. Preparing an article on that issue, from economics point of view. Should say one thing though right now. My respect to Paul Krugman (quite high) dropped a lot after reading these two articles:
Driller Instinct
Fuels on the Hill

I'd like to see respected professor to support his view by hard data. And also to explain why, if supply of oil can't meet demand, we shouldn't drill? The talk about alternative energy and fuels is just that, talk. Although lately it turned up deadly. I'd like to know how many people died of hunger in Africa as a result of much higher food prices triggered by US Congress mandated use of biofuels. Bad economic decisions quite often kill people, literally.

More on this later.

Euro 2008 is the best I've seen. Enjoy it immensely.

Full disclosure: at the time of publication author had long positions in BBD and PM. Positions can change any time.

Disclaimer: This article is not intended as an investment advice. Every person should make her/his own investment decisions based on all available information and advice from her/his own financial advisor.