Bet back.
Charles Brown
The Revolution will not start on Wall Street and will not be televised.
>>> Max Sawicky <sawicky at epinet.org> 11/05 10:19 AM >>>
> . . . This is still a bear market, probably the worst -
> no, definitely the worst - this century and it will continue until the
> last bull has left it; so the process of dog-leg declines has still
> got a long, long way to go and the rumours about being in remission
> are highly premature. Don't listen to me: go hear what the FT calls
> 'frustrated bear, Albert Edwards, global strategist at Dresdner Kleinwort
> Benson,' whose "denial indicator" currently shows that
> stock market analysts in the US and Germany are the most guilty of
> turning a blind eye to economic reality.' (FT, 4 Nov)
>
> Closely followed by Sawicky (Hi, Max, I'm still savouring my
> case of whisky you're gonna send me next september).
Closely indeed. I wasn't aware we had even agreed on a bet. You may recall I insisted on cash. But at this point, I will bet dollars to anything that the Dow will stay above 3000 until Sept 16, 1999, if not later.
So by all means, our bet is on. Just explain to me what godawful stuff I'm supposed to send you (after that snowball rolls through hell). If I can't find a use for my winnings, I can always make gifts of bottles to individual, disappointed apocalypticists. I feel your pain.
Calmer than ever, MBS