When I was in college in the mid-1990's, my friends and I used to drive 15 miles to the nearest Tower Records to shop for music. We'd spend the evening hanging out at the listening booths, exploring the racks for new music, and combing through the clearance bins for deals. That was before Napster, now owned by Best Buy (BBY), and later Apple's (AAPL) iTunes Store, drove them out of business with digital delivery. Tower Records first went into bankruptcy in 2004, and went out of business for good in 2006. [more]
After the 2008 recession began, Berkshire Hathaway CEO Warren Buffett wrote in his 2008 chairman's letter: "Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down."
During the current market downturn, I am determined to follow his advice. So yesterday I went to Costco and bought some new socks. They're comfy. Gold Toe, at a really good price. The man is onto something here. I already feel like a better investor. [more]