Buffett says be careful with commodities, hedge the USD via buying companies in strong economies and beware private equity partners.

I got up very early today so I could shuffle some deck chairs around on the Titanic, otherwise known as my portfolio. FWIW which is zero, I sold half of my largest position

Can you get a deal like Warren? Yes, but be prepared to take more time and capital risk.

The Microsoft board has been accused in some quarters of poor capital allocation. There is plenty of evidence to support this, not least the recent Yahoo bid, the $6B cash purchase of aQuantive and the Gucci loafer in the door at Facebook. When Microsoft paid $240M for a 1.6% stake in Facebook it was valuing a company with $140M in revenues and $30M in profits at over $15B. Some may excuse that sort of stupidity as strategic, to me it’s just plain stupid. All three deals have one thing in …