Warren Buffett spent an hour with Charlie Rose yesterday. I highly recommend anyone interested in getting a better understanding of the current situation to watch this (along with some discussion on taxes, past bubbles). Buffett really has a way of explaining things in an interesting, witty, and playful way, but even more importantly a way anyone can understand. He is so even, it’s easy to see how he is able to not get pulled in by the greed on the way up, and not pulled down by the fear on the way down. Right now we’re surrounded by fear, but he sees many opportunities. Admittedly he doesn’t expect things to turn around tomorrow, but he does feel very strongly in the prospects for the future. It’s very likely that in 5 years people will look at GE at $22 a share and say “wow that was cheap.” Anyway, spend some time to watch this.