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. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. 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.

Tuesday, January 24, 2012


The copper price looks as if it's started a new run (see chart) as has my base metals index (not shown).  The close is above the 50 day moving average, which is rising, though the 50 day isn't yet above the 150 day.  But it looks a lot like early '09 doesn't it?

The US is accelerating, the ECB has decided to act like a real central bank and provide the unlimited support to the European banks it's supposed to, and China is at its low point.

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