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Saturday, April 26, 2008
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“Despite three years of falling prices, which have significantly improved the attractiveness of common stocks, we still find very few that even mildly interest us. That dismal fact is testimony to the insanity of valuations reached during The Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge.” -- Warren Buffett, March 2003
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1 comments:
Prechter's a smart guy, but he doesn't seem to think there is any chance of a black swan. He looks at the past, looks at his waves and just ignores things like the fact that the USD is teetering on the brink of losing its status as the world's reserve currency. If China and Japan bail on buying our debt, and they will do this soon IMO, the US is screwed and gold will skyrocket.
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