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Gold/Mining/Energy : Uranium Stocks
URNM 55.58+4.6%Dec 19 4:00 PM EST
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To: Taikun who wrote (2461)3/31/2006 4:55:18 PM
From: Tommaso  Read Replies (2) of 30229
 
I just got out my 1980 edition of Casey's book "Crisis Investing," and I must say that there are very few financial books that are quite as untimely and wrong-headed as that one was.

On the eve of the beginning of the most protracted bull market in stocks of all time, he was suggesting that the Dow would sink to 400 from 800, and even sugggesting that short selling was a good idea. He said NOT to buy a house, predicted a depression, and advised making "gold the foundation of any portfolio." He said to stay out of bonds (at a time when you could nail down 13% returns in long treasuries) and suggested getting your assets out of the United States. He warned of bank failures.

Of course, it is possible that Casey has learned a thing or two in the last 27 years. But if he was that completely confident and that completely wrong in 1979 when he wrote the book, he hardly seems like a good source of advice.
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