First off, I agree that if you placed money with him as your advisor and subject to the fees, you have an absolute right to be angry.

For the rest of us who merely listen to the show, let me see if my recollections are correct.

1. Oreo theory-- In the late spring, JP did indeed shorten the creamy filling portion of the cookie. He admitted that he did not anticipate oil rising to $145/barrel so quickly, and that cost clearly affected his theory.

2. The mid-July commodity massacre--Frankly, Don Coxe, JP, FB, Eric Sprott--all of these guys were blind-sided by Paulson's market manipulation which strengthened the financials and killed the commodities. While JP was informing us of the naked short selling issue that affected the juniors, the derivative issues, as well as the attempts by the central banks to control gold & silver pricing, this blatant market manipulation was entirely beyond anyone's thought process.

We all got hammered and now this credit issue is going to break many of our juniors. The fundamentals were there, but the manipulation blew them up.

Just my recollections......................