The Contrarian

[lrp42]

I don't know if you are right or wrong on this subject. However, I have felt for some time that the current bull market that has been going on for several years was about to run out of steam. Therefore, I have become very defensive in my investing these past few months.

Have you ever read any of John Mauldin's free newsletters? In case you haven't read them, then I will say that he puts out a lot of information from various sources on the economy. He reported on the buildup in subprime mortgages and the possible consequences for a couple of years before it came to the public's attention. I could be wrong, but the last time I recall him expressing his opinion on the subject of a recession possibility was he thought that if a recession should occur it would be shallow and not too deep. I hope he is right on this subject. Even though I am retired and a recession would not effect my lifestyle very much, I hate to see younger folks lose their jobs and income.

BTW, I read your post this morning on the AIM bulletin board forum about how AIM lagged buying and holding the Dow 30 Industrials since 1940 because of the returns from reinvested dividends. That was very interesting and gave me some food for thought.

Ray