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.
Friday, July 22, 2011
Tea Party Numpties
Looks as if some sort of compromise is happening. As some political commentator once said about the British Cabinet: Nothing concentrates the mind of the Cabinet quite so much as a fall in the Pound. Do any of the pollies playing chicken with the US debt cap know just how dangerous a default by the US would be? I suspect the intelligent ones (if that's not an oxymoron) do. Which is why I'm not selling and running screaming for the hills. (Why the hills?)
Posted by Nikolaos at 12:50 PM