Wednesday, December 31, 2008

A Year to End All Years...Or Was It?

Three years ago, when I started calling for the collapse in housing, banking, and the entire financial system, people thought: How insane, how completely irrational. Well…

For those who followed my strategy and tactics to the letter, you are enjoying a more comfortable feeling than others. However, complacency or smugness must not be allowed to filter into our minds. Much work remains to be done, and unfortunately, this rolling recession/depression shows no signs of letting up. Regardless of whether the President’s name is Bush, Obama, Clinton, or even Washington, Jefferson, Hoover or Roosevelt, the task of righting the ship will be monumental, if not impossible.

With that said, however, opportunities will continue to abound with assets correlated to the market, and those assets non-correlated to the market. Cash-flow will continue to be the vehicle of choice, and protection of capital will be as, or more important, than return on capital.

George S. Patton once said: A few battles won are insignificant if the war is lost. We have won many battles, (and also lost a few), but the war continues to rage. I will continue working diligently, utilizing the same successful strategies from the past, adjusting the tactics where warranted.

I wish you and yours a happy, healthy, and prosperous New Year!

Till next year,

Bill



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