It IS Warm!

Warmest year ever? Right now they are playing golf in Finland and Denmark..Europe is the warmest it has been in 500 years. In Russia this record has kept bears from hibernating and allowed flowers to grow in their capital. This is affecting crops, water tables, oil drilling and hydrocarbon consumption. All models are being turned upside down.

The growing concerns for us is a market that refuses to correct, an almost unanimous bullish consensus globally that everything good will continue and with so much leverage betting the long side. We will be erring on the side of caution as we enter 2007 untill some of this froth subsides.

There IS a very healthy, well managed and very diversified global economy the likes of which really no one has ever experienced before....."is it different this time?" It could be!!

Barkly seen here had 6 great years.