- I believe it would be extremely foolish as an American who served in the US Marine Corps to not identify China as a strong and growing opponent, one whose moves should be respected.
- A second application of the respect principle is to acknowledge the lessons of the stock market. The most consistent market lesson being the teaching of humility.
- Contrarian investors must exercise patience, but as Saint Augustine said, "Patience is the companion of wisdom", hopefully we have enough.
For further details see:
Respecting The Opposition & Market - Weekly Blog # 675