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THC, Deflation has already been very bad for commodities and most of the world is in deflation. But, the fact is, I am not incredibly bullish on anything. I only have 10% of my total portfolio in long assets of any sort (not counting the gun or wine collections). I do like to keep a small long portfolio at all times of what I consider relatively compelling values and these include the metals, some small biotechs, and a few undervalued tech stocks. Oils were on the list, but they have risen too much. The main point being I think I know what is going to happen, but I don't know when. And, it is always possible that I am off base and inflation hits, in which case, I am in absolutely the right area, commodities and novel drugs with pricing power. |
