Chart Of The Day
From Calculated Risk.
This graph shows U.S. average weekly rail carloads. It is important to note that excluding coal, traffic is up 11.3% from January 2009, and traffic increased in 13 of the 19 major commodity categories.
I don’t know if the uptick in the other commodities is anything other than the current inventory rebuild – which doesn’t mean any sustainable economic growth. But it’s a bit encouraging that it might be another sign that the economy is stabilizing. I’ll take any good news where I can find it.
So, was Buffet’s purchase on the decline a smart move?
Only time will tell.
Buffett told me he wished he’d waited a little longer before taking the plunge. Now nobody will lend him any money at a reasonable rate. PS–The Baltic Dry Index will give you a better read on what’s happening in trade. Hey it’s a global economy you know.