IS A SECULAR BEAR MARKET INEVITABLE?
The U.S. faces a high probability of Economic Armageddon according to Stephen Roach, chief economist at Morgan Stanley. Balance the budget? Fugitaboutit says PIMCOs Bill Gross. Meanwhile Warren Buffett has described financial derivatives, with contracts totaling $84 trillion in notional value concentrated among a handful of large US commercial banks, as financial weapons of mass destruction while moving $20 billion out of the US dollar into foreign currencies. Put mildly, some marquee names in the financial realm are sounding cautious regarding our financial future. At the same time todays business news carries a ready stream of articles and commentary from experienced financial professionals which generally suggest that the economy can be expected to continue expanding at a moderate rate and financial asset prices, although not at historically low levels, offer reasonable value for the patient investor. The diligent investor, having taken the time to follow what these professionals ha
