Hi and welcome to another letter about global economies, currencies, stocks and commodities. In general, this is not a happy time. The world is suffering from slow economic growth, fear of war and the divisive argument about the need to invade Iraq.
Before getting into the body of the letter, let me summarize some of my conclusions. In our opinion, government bonds denominated in the major world currencies could go much higher versus the US Dollar. We own some of these, and will use any buying opportunity created by fighting in Iraq to buy more. We believe that this . . .
Continue Reading: March 11, 2003
