Nope, not all of it. I have read more objective analysis
of the credit bubble. In particular, Doug Noland's missives
on Prubear are excellent, although his language is something
to get used to. In addition, Mish claims excellent knowledge,
is quite arrogant and ridicules points of view that, well, prove
to be right over time. Na-na-na was all his at the top
of the Treasury bond bubble, whereas he has been wrong for
a decade prior to the start of this recession. The ability
not to listen, nor understand points of views will, well,
lead to losses in the markets for his followers, and did
already prior to the recession. The bond is back to where
it was in the last 5 years or so. Me? I'm trading, not advising.
So far profitably, and last year was spectacular. Being humble
is the rule to profitability for traders. Got an ego? You'll
quickly get run over. The fight between deflationary effect
of credit collapse and reflationary effect of printing is
a constant battle in these markets. I am not willing to give
one or another an upper hand, but I am pretty sure if the
economy recovers, we'll see side effects from reflation. -ggg-
In particular, instead of pointing at collapse of commodity
prices and dancing to deflation tune, did he figure out these
represent buying opportunities of the century because they
trade well below cost of production, so supply will come down?
Oil doubled from last Winter. I bought gold stocks into the drop and
in October and am very, very happy about that. |
