“A few days ago, we sent out an alert suggesting that copper was due for a big correction. We have not changed our view and continue to believe that copper's price is likely to decline over the following weeks. As we have stated before, something does not add up and it is highly probable that copper 'longs' will be taken to the cleaners over the following weeks. Accordingly, we recommend that you liquidate your positions in copper and if you are a nimble trader, consider going 'short' via futures and options.” - January 2010
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“In the world of currencies, the US Dollar is firming against the European currencies. This is in line with our expectation and over the following weeks, we are likely to see additional weakness in the Euro and British Pound. As per last week's update, as long as the US Dollar Index trades above the 77 level, keep your cash in the American currency.” - January 2010
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“In the business of investing, nobody rings a bell at the end of bear-markets, but I happen to believe that the US Dollar completed its bear-market last summer (at least against the European currencies which are in a terrible state).” - July 2009
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“If my assessment is correct, a global deflationary bust isn’t likely. On the contrary, I suspect most asset markets will appreciate over the next 2-3 years due to the gigantic money-creation going on all over the world. On a relative basis, I believe that stock markets in the West will continue to underperform the faster growing nations in Asia and Latin America.” - May 2009
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“As you may remember, a few months ago, I made the case that we were in the early stages of a cyclical bull-market. Well, it looks as though my assessment was correct and we are now likely to see a multi-month rally in global equities.” - May 2009
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“Turning to the current situation, I am well aware that the majority of people are extremely negative about the near-term outlook of the global economy and many are forecasting a horrendous depression. According to these folks, asset prices will remain depressed forever and cash will be the only “asset” worth owning. In my view, these prophets of doom are making a big mistake by betting against 200 years of history.” - March 2009
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“The coming year may go down in history as a wildly bullish one. After the shocking asset liquidation witnessed in 2008, the following 12 months are likely to provide fantastic investment returns.” - January 2009
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“Finally, in the energy complex, it seems to me as though the price of natural gas has completed its consolidation phase and may be getting ready to appreciate. In
anticipation of this move, we have invested our clients’ capital in our preferred natural-gas producer and I suggest that you consider investing in natural-gas
producing companies.” - November 2007
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“The energy market underwent a full-blown correction last year and should outperform other commodities over the coming months. So far, coal has been a laggard in the energy bull-market but I suspect it represents the best investment opportunity in the energy complex.” - June 2007
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“Sometimes, life presents great opportunities to the prepared mind. I believe the energy sector is currently offering long-term investors a “once-in-a-lifetime” buying opportunity in the most coveted asset of the future.” – May 2007
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“Given the economic and geo-political situation, I continue to like precious metals as a store of value. Last year, I stated that the next big advance in precious metals would take place towards the end of this year. I stand by my position and maintain that after a few additional months of consolidation, both gold and silver are likely to rise.” – April 2007
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“You may remember that I had bought into the emerging markets during the panic last summer and after making a decent profit, I have lightened up on our positions. At present, from a valuation and sentiment perspective, I am unable to find genuine bargains. Over the medium to long-term, I continue to favour the developing markets in Asia and Latin America over the industrialized nations.” – March 2007
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“The US Bond market is breaking down and the yields are rising. In my view, the bull-market in bonds ended in 2003 and over the coming years, I expect bonds to decline. Conversely, I expect that interest rates will appreciate in the US.” – February 2007
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“Going forwards, I expect the liquidity environment to remain supportive of asset prices resulting in another good year. If my assessment is correct, emerging-market equities and commodities should (once again) be the biggest beneficiaries in 2007. Even the US stock-market may surprise to the upside.” – January 2007
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“Opinion is divided as to whether interest-rates will continue to rise. The majority seem to think that the Federal Reserve won’t raise interest-rates much further for the fear of seriously hurting the housing boom. However, I feel that the US interest-rates will have to continue to rise or else the US dollar may stage a dramatic decline. Given a choice between protecting either the housing boom or an outright collapse in the US dollar, I can assure you that the Federal Reserve will choose the latter.” – July 2006
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“Emerging markets and commodities have already had a fantastic run and with interest-rates rising, it would be a better idea to invest after a correction. As I’ve stated previously, I expect a decline in asset prices later this year so you may be able to buy stocks at a cheaper level than today” – April 2006
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“I have been positive about gold and other tangible assets since 2001. Despite the recent surge, as an asset-class, commodities still remain grossly undervalued. In 2001, on an inflation-adjusted basis, commodities were the cheapest they had ever been in the history of capitalism. Make no mistake, apart from periodic corrections along the way, commodities will provide fantastic gains over the years ahead.” – October 2005
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"Like it or not, the era of cheap oil is over and expensive oil is here to stay. My research has convinced me that the supply and demand of crude is seriously out of balance. If my assessment is correct, the price of oil will rise significantly in the years ahead. In my view, every investor must allocate a minimum of 30-35% of his total assets to this sector without further delay ” - September 2005
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“Apart from commodities, I believe Asian stocks should be accumulated after major corrections. Countries such as China, India and Japan offer potential for gains and the valuations look relatively attractive when compared to the West.” – September 2005
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“In the years to come, I anticipate that commodity prices will (once again) soar and consumer prices will rise significantly. On the other hand, I expect financial asset-prices to decline as stocks and bonds tend to perform poorly when commodities rise. Every investor ought to take positions in gold and silver as paper money will probably lose value against tangibles over the period ahead. ” - August 2005
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“So far, industrial commodities have done exceptionally well. However, agricultural commodities such as sugar, corn, wheat and orange juice haven’t gone up as much and are still close to their all-time lows adjusted for inflation. Over the coming 18-14 months, I expect agricultural commodities to provide the best returns.” – July 2005
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