UBUNTU

"Ubuntu," from the African Bantu language, stresses collective success over individual achievement.

Individual traders getting slammed here...like at the black Jack table, the house always wins. Crowded trades we have talked about now correcting. Oil, Gold, China, Yen carry trade, Derivatives, SIV's, Hillary C and many more.

The clear consensus is for a recession, economic slow down, $100 oil, $1000 Gold, a US Dollar implosion and stock market crash. It never works that way when everyone is on board.

Fairer minds prevail and the collective reasoning kicks back in....like now.....

All this is long term healthy, housing returns to a more normalized market, like the old days, Oil will trend higher and not go straight up, Iraq will settle down and be "just" a new military base with peace keeping goals and elections will come and go with the American people seeing through the nonsense. Read Peggy Noonan's editorial in the Saturday edition of the WSJ.

CAF is trading at a 27% discount to NAV, Nat gas is still the best energy play and BHP continues to be the under owned market leader as the economy moves away from the financial sector to one that is more inflationary/ reflationary with better lending standards. Lumber too has put in a low, WY sure looks cheap. Wall Street and commercial banks take the hit, clean up their act and we move one. The US Dollar is under valued as is the US economy, Trade balances will start to improve and we remain at full employment.

Investors will migrate to the best run, over capitalized, large cap companies in leadership positions.

"Our greatest glory is not in never falling but in rising every time we fall." Winston Churchill failed sixth grade, Henry Ford went bankrupt five times before ultimately succeeding. R.H. Macy went bust seven times before his New York City store caught on. Michael Jordan was cut from his high school basket ball team. Walt Disney was fired by a newspaper editor because "he lacked imagination and had no good ideas." Beethoven's violin teacher said he was "hopeless as a composer." The first time Jerry Seinfeld tried stand-up comedy he froze and was jeered offstage. Our point? There's something to be said for sheer tenacity, second effort.

Anyone who is counting the USA out of this equity global game is missing a major opportunity!

Danny Boy seen here has recently had some serious face time with interesting people....and things are pretty exciting right now.