Hi, it’s September 30 and I’m writing to share our activity and to explain our outlook.
WHY WE ARE NOT WORRIED
We are holding cash, foreign currency bonds, gold shares and a small percent in U.S. Stocks with very low P/E ratios. We are not heavily invested, and what we do own are mostly contra-cyclical to U.S. stocks. We are currently 30 months into a major bear market in U.S. stocks. Many tech leaders of the 90’s are down over 90%, the NASDAQ is off 80%, the S&P 500 is off 45%. This 45% decline matches the ultimate 45% . . .
Continue Reading: September 30, 2002
