GuruFocus tracks the stock picks of Warren Buffett, George Soros and other guru investors http://www.gurufocus.com 2008-07-18T12:35:10-06:00 http://www.gurufocus.com/ http://www.gurufocus.com/images/1.gif text/html http://www.gurufocus.com/forum/read.php?1,32611 Like many other value investors, Bill Nygrenâ??s performance has been hurt by owning financials and not owning energy. His Oakmark Fund fell 4%, and Oakmark Select Fund lost 7% during the second quarter. He has made YUM! Brands the largest position, and bought Bank of America and Walgreen. These are his recent commentary on these stocks. text/html http://www.gurufocus.com/forum/read.php?2,32610 On Tuesday, as S&P briefly touched $1,200, banking sector represented by KBW Bank Index (BKX) (or other similar indices) went down to $47 (which had been range bound and traded around $75-90 early this year), and VIX reached $30, it seemed that stock market capitulation has materialized like the March plummet. The dropping of BKX index was very severe that it broke my technical target of $55 by $8 points. Now we may see a bear market rally lasting for a few months, similar to post-March capitulation. text/html http://www.gurufocus.com/forum/read.php?2,32575 It is depressing to watch your portfolios go down every day. Even with break yesterday, it is hard to be â??Happy Happy, Joy Joyâ?, as written by our columnist Todd Kenyon. Are you in fear? Do you still want to buy? text/html http://www.gurufocus.com/forum/read.php?2,32560 Looking for good news in today's markets is like searching for the proverbial needle in a haystack. Needless to say, practically all investment grade equities and nearly all closed end funds that specialize in providing regular recurring monthly income have been reduced in market value by this prolonged correction. The quake has spread in all directions from its financial epicenter, and the mounting doom and gloom has taken its toll on even the most rational investment decision makers. Try to keep in mind that the purpose of income investing is the income that your portfolio produces not an increase in the securities' market values---