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Silver

Don Those Earmuffs!

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“Americans can always be trusted to do the right thing once all other possibilities have been exhausted.” – Quote often ascribed to Winston Churchill If there’s one thing most can feel good about these days, it’s the fact that the process of trying “all other possibilities” to keep corporations and the economy afloat is in full swing, which in turn probably means we’re that much closer to getting to a viable long-term solution that benefits most. As touched on in last month’s letter, the “right thing” will likely only come after all these other easier, less painful possibilities have been…

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What’s Changed Since December?

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Simply put, stocks have continued to rise in February while growth data has continued to weaken – fairly decisively. If all one cares about is investing in what’s currently going up, then this rally in stocks seems like a no-brainer. The only problem is that the preponderance of evidence suggests that this rally is the textbook bear market variety, which means it will likely change course just as quickly as it began. If one’s looking to generate fast losses, there’s really no better way. Our position on portfolio composition for the time being hasn’t changed. We will change it when…

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