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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (52306)	8/14/2004 1:56:01 AM
From: Seeker of Truth	Read Replies (1) \| Respond to of 74559

Jay, I notice that you are buying puts and otherwise shorting U.S. stocks. When we are long oil, long gold, long Can$, euro etc. U.S. inflation is on our side. When we are short U.S. stocks such inflation is against us. Over many such operations the former side should make more money, I'm guessing. I suppose your reply to this would be that the overvaluation of the stocks greatly exceeds the undervaluation of oil and gold and certain non-US currencies. I can always remember a weekend in a certain undeveloped country when prices tripled over that weekend. The practical currencies became bags of flour and Mexican silver coins. It probably warped me forever on the subject of inflation. I never want to be against it, even though there may be in truth more value in short positions than in anything else.