Ann: Video update from Chief Investment Officer and Chairman, page-306

Some excellent points you make Jack. I hope you are right in your predictions. Even Warren Buffet recommended that average Joes should just buy an index fund and hold for 30 years.

Value investing will only return when you only have smart money looking for value. The unrelenting increase to the money supply has found its way into the weirdest of assets, no matter its underlying value. I agree that inflation and money supply reduction will be the catalyst for change. An exposure to value investing such as Hamish's MFG is a reasonable play. I purchased some more Friday but overall expect we need to wait 12 months and $14.50 a share before this turns around. Averaging down will be the key to an excellent long term investment in the years to come.