i still think the markets are reacting more to fear and less to economic reason. big equity names blew up and that has to be discounted, granted, but, at some point, that level of discounting has to be justified in relation to actual economic performance. that will happen. that's my basis for the 'nature abhors a vacuum' metaphor. Zeev senses the reaction has a good probability of excess, however shortlived. i'm certainly putting myself in a position to benefit when it does. but when the party blows up, the neighbors complain, the police arrive, i'll be out the back door before they start playing the 'bad boys' theme song.
i don't pretend to understand the technical aspects of money, what it's worth, how it's valued, the explantions flow so fast and furious these days i've dispaired keeping up. the only thing i'm at all sure of is that real commodities support real demand for real profits. although, i'd like to draw attention to the recent spectacular collapse in the OIX. it looks to be the worst in the index's history. just from an amateur's pov, it looks to be quite positive for the production/farming/transport economies. of course, jmho, bwdik.
larry
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