Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

The Danger from Defaults

Good Stocks

American Credit Card Companies Are flush with Cash

Despite the risks, the U.S. credit industry is capable of generating a lot of cash, which can lead to high levels of float. Float is Warren Buffett’s term for a constant stream of revenue or stockpile of cash that a company can tap or borrow against at any time. Classic examples of float include credit card fees and insurance policy premiums.

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