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Richard's Remarks


From Barton Biggs, Wealth War & Wisdom:


Second, at least once in every century there has been an episode of great wealth destruction when the Four Horsemen of the Apocalypse -- Pestilence, War, Famine, and Death -- have ridden rough-shod. World War II was the last time that the pale horse with Death on his back and Hell following him terrorized the world.


I was wrong about the market, but pleased with the outcome. I thought the Transports rising unconfirmed was setting the market up for trouble. But today, to my surprise, the Industrials rallied to a new high, thereby putting Industrials and Transports together at new highs. This erased the possibility of a destructive bear market and suggests that the stock market is heading higher. How high it will go, I don't know, but what I do know is that the chance of a bear market has been erased for now. ... Log in or subscribe to continue reading.

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