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Olivier Garret has just sent a mailer out to his merry flock, that tries to explain just why the Casey Research $20 per person "Market Gonna Crash Act NOW!" call of October 21st isn't going quite the way they imagined.
IKN parses his mail for you below. Olivier's in black, IKN's in red.
- trim your portfolio to only its strongest stocks, the issues with the most emphatic fundamental reasons for owning them;
- hold the resulting cash in US dollars;
- keep your gold;
- but buy "gold insurance," in the form of puts on GLD, to counter potential weakness in precious metals and related stocks; and
- buy long-term Treasuries as a speculation that interest rates would move still lower.
UPDATE: Reader MP sends in this:
According to the 3q14 MD&A, the next thing PRD wants to do is...
"The Company plans to drill two to three deviated wells from the Boerger 7A well site in the second quarter of 2015, as the next stage of development for the Boerger pool..."
...the copper/oil ratio (using WTI):
Back in 2012 this spiked to 0.04X because copper was spiking to $3.90/lb and trading happily at $3.40 to $3.70. This time it's because of the way copper's holding tough at three while oil...well, you know what that's been doing since September.
So copper's relatively expensive compared to oil again. But it's not weirdly expensive and as seen in 2012, it can hold this ratio quite happily for weeks on end.
Aguanta Muñeco. Tu otra familia está para vos.