Fleck 4/29/03

[praetorian2]

I have never been one to post about individual articles that all of us need to subscribe to read, but I have to say that Bill Fleckenstein's speech in today's realmoney.com is probably the best work of financial literature that I have read all year (excluding Buffett's annual of course).

I recommend that you read it, and then read it again, and then read it again. I in fact have forced many friends who are not even in the market to read it. It just is too good to pass up.

 

[dgabriel]

How about a synopsis for the non subscribers

 

[praetorian2]

I wouldn't do it justice.

I would say that most likely, this article is worth the price of a subscription.

Others of course can weigh in. It is typical Fleckisms, but they are all tied together perfectly.

 

[Babak]

Precious-Metallic Armor for the Crisis of Confidence

Stock indices are headed lower, all roads lead to inflation, and metals offer a safe haven.

 

[triple_j]

Quote from dgabriel:

How about a synopsis for the non subscribers

go to the Yahoo boards and do a search for 'fleck'

you'll come up with today's commentary.

Just a thought,

triple

 

[Babak]

I agree with the basic premise which he presents (really nothing new...he's been talking about it as have others for some time now). However, in the short term something bothers me about gold stocks. And that is the rapid shrinkage in their implied volatilities. At best they may pause here or even decline a bit.

Or I may be wrong.

 

[Babak]

thestreet.com made his article available as a bonus:

http://www.thestreet.com/markets/billfleckenstein/10083946.html