The trenchant testicle-testing question is this, IMO: in a deleveraging cycle, one btw you and I have never seen, can or will the CBs print enough to reverse it?
My answer fwiw is "no." But they will try. And therein lies the rub, the reason for the on/off stuff, the fits and starts, as the markets smell stimulus and react to the upside, then deleveraging becomes the theme, rinse wash repeat.
Japan is the precedent.
The task is to figure out a way to deal with it profitably while at the same time keeping a weather eye on macro political imponderables, I.e., Euroland and the Mideast.
My thinking is a mix of gold, cash, energy and creme de la creme equities. Weirdly enough, when considered globally, this is how my family circle (those with any moolah, anyway) are positioned, with some doing part of it and others something else. I am the Au and can guy. |
