Geopolitics and capital markets: "When the world is at war, commodity prices are favored. When the world is at peace, financial asset prices are favored.
As you know, my portfolio is over-weighted in shares of companies of commodity producers, like the oil and gas producers and the metals producers, and their suppliers. And when the global economy starts to pick up, or gives me an indication it will not go into recession, I'll add some shares of the chemical and paper and forestry companies, which along with some of the golds is the place to be looking for values today."
Tuesday, February 21, 2006
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