Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. I do make mistakes, but I try hard to do my analysis thoroughly, and to make sure my data are correct. Remember: the unexpected sometimes happens. The expected does too, but all too often it takes longer than you thought it would.

The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Thursday, July 28, 2011


Big falls overnight on Wall Street and in Europe.  The brinkmanship continues.  Are US pollies really going to push the world into another GFC?  Can they really be that partisan and demented to drive their economy and the rest of the world into another serious recession?  Whatever happened to noblesse oblige?

I'm starting to worry, now, that they will.  O tempora!  O mores!

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