Bill Miller: bad, bad year

good lord, here’s a 'lil gremlin who needs to get laid tonight. run, run, the world is at an end! 'tis the time fer repentance! no pudding fer you laddie 'til you ‘fess up yer sins! [grabs popcorn to get ready for the denouement] […oops, fergot them monocles, can’t see the screen witho’ them]

bchadwick Wrote: ------------------------------------------------------- > > Still, I’ve been pummeled pretty bad pretty fast. > Some of it has been money that was “parked” in > commodities while waiting for other alternatives. > “parked in commodities”?! woah, chadwick, i did not expect that from you, my friend. tip - read alternative investments handbook - anson, chapters on historical asset class performances, and the commodities chapters. good, good stuff.

I wasn’t generally in commodities. I was in gold specifically for a fundamental view on the dollar without having to have a view of euros and yen and stuff. What I meant was that a lot of other momentum type investors were probably parked there too, and I got trampled when they rushed out to somewhere else.

sorry rohufish - the world is not at an end just some people are asleep at the wheel.

“I was in gold specifically for a fundamental view on the dollar without having to have a view of euros and yen and stuff.” As deleveraging continues and accelerates the dollar will continue to rise. Why? Most of the global debt pool is denominated in USD. Some people are now starting to get the picture, hence the the confirmed breakout on the Dollar trade-weighted index (DXY) EUR/USD = 1.15 - 1.25 by end 2009

So if I got your view correctly, gremlin, you’re saying that there is so much value destruction in dollar denominated assets caused by deleveraging, higher credit spreads, and forced selling that it outweighs any printing press type activities done by the Fed and the Treasury. But globally, where is the demand for dollars likely to come from to keep the $ from collapsing due to aenemic growth?

Getting back to Bill…I hear Legg and Lord Abbett are considering legal action claiming the takeovers were illegal.