Lessons from Omaha

Every year, The Oracle of Omaha, launch some stress on market watchers. This year, Warren Buffett main topic was "The 'investment income' account of our country—positive in every previous year since 1915—turned negative in 2006. Foreigners now earn more on their U.S. investments than we do on our investments abroad. In effect, we've used up our bank account and turned to our credit card".

The "twin deficits" is making America poorer, because America is living according to the credit card rules!

Two more issues from Berkshire Hathaway: 1) Buffett announced that Yahoo's chief financial officer, Susan Decker, will join Berkshire's board in May; 2) the U.S. dollar will continue its gradual weakening—and he continues to hold that position, basing his view on the country's large trade imbalances.

Yahoo: another comeback?

Terry Semel is trying to get Yahoo back on track:

• Terry Semel promoted Chief Financial Officer Susan Decker to a new job overseeing advertising sales.
• Chief Operating Officer Dan Rosensweig will leave the company.
• Lloyd Braun, the former ABC television executive who ran Yahoo's media sites, also resigned.

The shake up is because of this:

• Yahoo's sales grew at the slowest pace in more than four years last quarter.
• the stock has plunged by almost a third this year.

Guess, who will be the next to leave?