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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chispas who wrote (52028)	6/4/2006 2:09:57 PM
From: Tommaso	Read Replies (1) \| Respond to of 116555

For many years, I have owned two books published by Casey in 1979 ("Crisis Investing") and 1982 ("Strategic Investing"). These books include some of the most flawed analysis and most wildly incorrect predictions that I have ever read anywhere. He continued to advise not investing in stocks until the Dow had dropped to about 400, which was 50% of its level in the early 1980s. He said inflation would go to 30% a year. He was predicting a "Greater Depression" than the 1930s even then. He advised keeping "a significant portion" of your wealth in gold. Now of course, he COULD be right this time. In the early 1980s, I was doing pretty much the opposite of what Casey advised, and I did extremely well. Towards the end of the 1980s, I began to give credence to Casey and others who thought along those lines, and this was a disaster. Whatever conclusions one reaches, I think it is probably best not to accept Casey as an infallible guru and to base decisions on other sources of information and advice.