The truth and …

Posted on Feb 27, 2009 by in Letters

We make a practice of reporting all our trades to our readers.  This may not be a good idea as it might encourage foolish behavior on their part.  In our letters we clearly discriminate between trading tactics and investment tactics and recommend that our readers follow investment tactics.  We also -- as in our recent letters about "lottery tickets" -- identify potentially crazy and nutty ideas.  In line with this practice we scaled out of some GLD and SLV PFE (will someone remind us why we bought this?) doubled down on AIG and checked our Smith and Wesson .38 to see how many cartridges were in the magazine before playing our daily game of Russian roulette.  We are currently reading the popular Russian Fandorin thrillers by  Boris Akunin in which the characters play "American roulette".  Given the games the Russians are currently playing Russian roulette seems more appropriate.  For your amusement in this vein "French leave"  (abandonment of ship in port) is known as "English leave" in French.  

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