Time For A Xmas Break

Friday, December 16, 2005

It has been an interesting year. With christmas/Hanukkah (and my well-wishes extend to all in favor of a peaceful world) approaching rapidly I feel it is time for some contemplation and to retreat from the beat of the newswires, the more than 100 cyber sources and the same number of blogs I try to follow on a regular basis. The big picture appears very clouded to me right now although visible necessinflation (inflation figures are low but everything we buy became more expensive) and ever growing indebtedness of western governments plagued by anemic growth and high unemployment don't change my fundamental view that there are too many bubbles any economy could weather without deflating them. My bullishness is strictly limited to precious metals and the Eastern hemisphere although prudence bars me from overweighting markets where I cannot read the language. Seems I will be stuck with miners, a few tech-picks and convertible notes in a an alternative medicine start-up about which I will blog a little later once my due diligence is more complete. Although the dollar could find additional support from a further firming in US rates my suspicion grows that the better part of strength in the greenback lies already behind us, but I am not yet willing to enter positions in accordance with this.
Looking at the growing stack of books on my bedside shelf where such diverse literature like William Greider's "The Soul of Capitalism" lies only half read on other yet unopened must reads like Ayn Rand's "Atlas Shrugged", Andrei Shleifer's "Inefficient Markets", Jeremy Rifkin's "The European Dream", Ray Kurzweil's "The Singularity is Near", Clyde Prestowitz' "Three Billion New Capitalists", Thomas Morus' "Utopia" (to be read a third time) and Michael C. Ruppert's "Crossing The Rubicon" I have plenty of reading material to broaden my perspective again and re-question my views.
Add in my suspicion that my loved ones will most probably put Daniel Reingold's "Confessions of a Wall Street Analyst", Jeffrey D. Sachs' "The End of Poverty", Heinz-Peter Spahn's "From Gold to Euro" and Joseph Stiglitz' "Towards a New Paradigm in Monetary Economics" under the christmas tree and you will understand that this will not leave much time for blogging in the next two weeks. (And I hope the real Santa Claus has enough room on his sledge so that he can bring Joshua Slocum's "Sailing Alone Around The World" together with a centre cockpit 52-foot Hallberg Rassy with on-board internet and a guarantee for calm seas with just a nice breeze to make decent headway while enjoying drinks from a gin and tonic fountain.)
Expect me to be back with my set of guidelines for investing in 2006 before New Year's Eve as I will certainly give market developments during the thinly traded holiday season a close look.
At the beginning of this year equities, gold and the dollar reversed direction in the first week. I am curious to monitor the action the first days of 2006.


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