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May 22, 2003

By Monty Guild and Tony Danaher, on May 22nd, 2003

The famous baseball pitcher, Satchel Paige is renowned for the quote, “Don’t look back – something may be gaining on you.” Our comments today are focused on this theme. We believe that something is gaining on us. What is it? The answer is deflation. However, contrary to Mr. Paige’s advice, we are looking back, as well as forward, to learn from history, and to clearly analyze coming events so that we may make a plan to profitably deal with any economic eventuality.

The subject of deflation can be somewhat pessimistic, so let us first discuss some good news. . . .
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May 22, 2003

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May 22, 2003

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