Global Economic Crash

he immutable cyclic nature of investment markets - exacerbated by the IRRATIONAL EXUBERANCE demonstrated in the current market mania - force a prudent person to conclude that there will be a secular money change from financial assets to real assets (probably soon).

The euphoric mania in stocks and bonds in recent years has clouded the common sense of Wall Street's rather youngish money managers. Throwing all caution to the winds of greed, the go-go investment gunslinger mentality of the late 60's and early 70's is back again - screaming: "THIS TIME IT'S DIFFERENT. ALL-TIME HIGH MARKET VALUATIONS ARE NO LONGER VALID BAROMETERS, NOR INDICATIVE OF INVESTMENT POTENTIAL!" Many years of garnering market wisdom has taught me the value of prudence and patience, and that youthful exuberance is always the last refuge of the inexperienced. Sooner or later their bubble will burst - and market focus will return to seek cyclic intrinsic values and traditional refuge investment vehicles.