In the long term. We own a commodity as defined below:
- Something useful that can be turned to commercial or other advantage: “Left-handed, power-hitting third basemen are a rare commodity in the big leagues” (Steve Guiremand).
- An article of trade or commerce, especially an agricultural or mining product that can be processed and resold.
- Advantage; benefit.
The great thing about a commodity, and why it is a compliment to call a person 'a commodity', is that they have intrinsic and real value.
The flight to cash is panic, forced capitulation, it is not a calculated ploy or schrewd maneuver.
The TSX is down 350 points, the DOW is down 285.
The reason I would like to own more paper (fiat) is to turn it into more commodity investments at these distressed prices.
Hedge funds and others are selling because they HAVE TO. They are sellling on news hoping to get the most they can. The fact is that there are few buyers anywhere. There are many sellers who NEED CASH TO COVER.
Let's not blame the new management or other large stock holders unless we have more specific evidence then divining the tape.
IMO
BK
