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Gold/Mining/Energy : Precious and Base Metal Investing

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To: russwinter who started this subject5/12/2003 9:58:20 AM
From: austrieconomist   of 39344
 
From the pantheon of respected commentators, this segment from Hussman's May 11 weekly commentary is appropriate to my prior posts urging caution on short side trading of the U.S. markets.

"I've clearly hit a nerve with the bears, and I can understand the frustration of investors who have been short during this advance. I can't speak for them here, and our strategy wouldn't allow us to take net short positions even if we were among them. So my only comment is this. To an investor who follows a carefully researched, theoretically sound, and historically tested approach, short term setbacks are an opportunity to exercise patience, stick to your plan, and continue your research. Look, our discipline has moved us to the constructive side. We need to adhere to that discipline, so why get all upset over a fact? To the bears who disagree, all I can encourage you to do is stick to your own approach and be absolutely certain to entertain the possibility that you're wrong, by doing hard research that encompasses an extensive span of history. We've certainly done the same."
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