Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: John Vosilla who wrote (49528)	4/11/2006 2:51:40 PM
From: Tommaso	Read Replies (1) of 116555

>>>Wasn't the dive during 1973-74 bear market then a rocketship upward along with the stagflationary recovery the rest of the decade?<< It was about an eight-month rocket ride and then not much really happened for the next eight years, as inflation eroded the real value stock prices. By 1982 I was using margin for the first time in my life, and was fully margined in discounted closed-end funds. If I had only held that position for the next ten years, I would have been a multimillionaire. But I thought inflation was going to continue and oil and gold and especially silver were going to boom. Paul Volcker saw that that did not happen; I didn't think he could do it, but he did.

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