"A crash does not come knocking at the front door by appointment".
Jim Slater, business executive and author.
It seems you have read the book Slater Walker isbn 340230207
Poor old Jim was not the financial whiz everyone thought. By his own admission he did not see the bubble bursting.
See page 398 --Sept 27 1976 he stated " All my assets were in Slater walker shares. I also bought land and pictures. With the land I broke even. I sold the pictures at a considerable loss ; I was highly geared and am a negative millionaire.
The most thoughtful piece I have seen re evaluating the bubble proposition was by N Bell of the Intelligent Investor in the Sydney Morning Herald.
"You know there is a bubble when the producers of the commodity are making 50% ROE such as BHP and RIO are doing on iron ore "; as for gold I don't think any of the producers are at that position yet.
