The end of June is approaching and I am writing to share my views. I have spoken to many of you recently and I have heard that many of you are deeply concerned about economic and other prospects in the U.S. There is reason to be concerned. We are in a bear market and as is our custom during every bear market since 1969 we are in cash, earning interest and waiting on the sidelines for resolution to some of the problems that will create market opportunity in coming months.
We currently hold small positions in gold shares, foreign . . .
Continue Reading: June 25, 2002
