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12 thoughts sparked by the Euro near 1.20
- It is terrible to contemplate the Euro near the round number of 1.20 vis a
vis my theory that the foreign exchange market always moves against the
- The Sage's constantly bearish view about the US economy and equities.
- The recent high in the Euro of 1.2450 and what this means as to what must
have happened to certain heroes of the terrapinal world, once again this year.
- The general fate that inevitably must devolve to all who follow fixed
- The retribution that always follows those who are
excessively arrogant and use homespun wisdom to invest in markets without
benefit of an economic or empirical foundation.
- Those who believe that past
success is more than loosely tied to future success,
- Except on the negative side, as a tendency to pay excessive vig is
guaranteed to lead to consistency of performance, albeit in the undesired
(except by the broker) direction.
- Many similar lapses and tendencies to hubris and reaches beyond ones
grasp that we are all too prone to fall into ourselves.
- The great relevance
and similarity of the Sage's views to a certain highly esteemed duo on our list
hailing from very fair climates.
- The market's tendency during the summer to cause excessive havoc and to overshoot.
- The near unanimity at the
beginning of this year among the public and those polled by banks that the
best trade in the world was to speculate against the dollar.
- The tendency of
those good players in a poker game to take all one's chips through bluffing
when they sense your base of operations is ill supported.