Hi DAK, dare I whisper it?
'I am getting that DotCom SlashNet Buy-the-Dip good-to-be-alive feeling'. There, I said it.
Just as CB predicted, I am thoroughly enjoying what Mr Bernanke has wrought, and so soon after he signed on.
NAV is now up at 9.34% YTD.
Gaining 30% when all are gaining 29% is not nearly as fun as scoring 9% when most are down 20%;0)
Looking back on the year, it all seemed so simple.
Just do the most obvious paired trades:
(a) long Euro, short Dollar;
(b) long Gold, short Yen;
(c) long Aussie, short HKD;
(d) long Annaly (NLY), short QCOM;
(e) long Pakistan Stock Exchange, short NYSE;
(f) long War, short Peace;
(g) long Busts, short Recoveries;
(h) long Fleckenstein, short Abby Jo Cohen; and
(i) long Marc Faber, short Greenskaput.
What could have been simpler? and yet some folks argued until they were blue in the face, as if we were trying to do them harm; and then they ran out of air;0)
Oops, I forgot, Maurice said it all is not a zero sum game, and so let me paraphrase Daily Reckoning, let us count our blessings now and may we count them again 12 months from now:0)
What are the obvious trades for 2003?
My tentative guesses are to:
(a) long Gold, oil/gas, and China;
(b) gently add Argentina and other resource shares;
(c) be ready to buy Brazil and Russia;
(d) long MO, short QCOM;
(e) long Canada, and
(f) short everything else.
Aim low, say another 10%, post inflation adjustment, and bench mark against the expected minus 20% of broader equity, bond and housing markets, as measured against gold, the one true money that rules over all cash.
In case you failed to detect, I am having a bit of optimistic, happy-go-luck, don't-worry-n-be-happy fun:0)
Chugs, Jay |
