I must say I'm suprised by your comments here Voltaire, being a proponent of cycle analysis. Certainly throughout the 20th century the world moved through quite distinct patterns (of approx 20 years) of investment in financials (or paper assets), to commodity's (or hard assets) and back again.
Cyclical bear in a secular bull if you ask me. All the 'credit problems' do is reduce much needed investment in future supply, leading to more imbalances in the supply/demand fundamentals as developing countries continue urbanise and industrialise.
Am guessing Jim will still look damn smart in the years to come. Feel pretty confident saying that he'd have a better investment record than every single HC user.
