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Gold/Mining/Energy : Epic EAS.v (formerly Epic ERB.v and Safari SIR.v)

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To: Chip McVickar who wrote (1819)4/16/1998 10:17:00 PM
From: Henry Volquardsen  Read Replies (1) of 3335
 
Off Topic to Chip and CLK

Interesting post. I have been following Marc Faber for years. He is a bright guy with some fascinating insights. However he has been negative, I believe, on US equities for some time so his timing may be questionable. FWIW I agree that US equities are overvalued for some of the same reasons Marc suggests but not to as great an extent.

BTW on the subject of the yen vs the dollar. You mentioned earlier the aggressive intervention by the Bank of Japan last week. The effect has really petered out. I have seen some interesting analysis over the recent days. The BoJ is very upset they didn't get more impact for the reserves they spent. Apparently the Japanese commercial banks were buying all the dollars the BoJ sold. Also Japanese individuals have been moving some assets off shore as well. The Japanese themselves have very low confidence in the yen right now. The yen will not strengthen more than temporarily until they figure out how to get the economy growing again and bolster domestic confidence.

Henry
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