continued buying, page-8

I agree. The short term is clouded by events which, in the grand scheme of things, are almost instantaneous and over just about as quickly (recessions, volcanic eruptions, etc etc). This noise is simply hiding what is soon going to be a very serious situation that will affect us all. Read books like "The last oil shock" (David Strahan) and many others on the subject and try not to lose too much sleep afterwards. Most of the populace still seems to be looking the other way, if my feeble attempts to engage those around me on the subject are anything to go by.

Meanwhile, it makes sense to buy relatively cheap stocks like ITC, which, by dint of promising potential oil reserves, could be the next best thing to hoarding a cackload of oil -- something that's about to become very valuable to those who need it (ie., just about everyone).

Longer term I don't know about the merits of holding stocks at all, given the likely economic consequences of what's coming. Buy land??