Wednesday, May 18, 2005

18 years

Random Gleanings: Hot Commodities
Rogers’ thesis is that it’s no accident that both stocks and commodities had 18-year, negatively correlated up-cycles in the 20th Century. He argues stocks and bonds did well in the 1980s and 1990s partly because commodities were in a bear market. He finds conventional securities still unappealing because of their high valuations, believes there’s a bubble in housing, and thinks both the dollar and the euro are flawed currencies.