What in the world is a correction? I hate that term! The market would go up and down with no news at all. THAT'S RIGHT FOLKS. If there was no news whatsoever, no analysis, no weather change, no Oprah, Paris, Michael or Tom Cruise news, the market would not stay in the same place -- it's not possible. We had some down days and now we had some up days. So just chill out!

Yes, interest rates and oil prices affect markets. So do terrorism, disasters, the Fed and the Prez. However, the analysis you read on a daily basis should be read with great cynicism, unless of course it comes from Mr. Buffett or Mr. Munger (you already know I'm smitten by those guys) who actually know a thing or two and have the track record to back it up.

So I guess I will play the curmudgeon role on this blog and keep pounding on everyone to relax, invest and not speculate. Look for facts and not opinions whenever possible and enjoy the summer when markets often lag because there is lower volume seasonally and NOT because we are having a correction!

For additional recent Liber rants see: "Dividends are very sexy -- no joke" and "A bad rap for a bad market"

 And don't miss yesterday's: "Get out of junky investments so you can sleep well at night"