032. Stock Market Has Exceeded Prior Peaks

We endorse the evaluation make by James W. Paulson of  Wells Capital who states that the stock market is overvalued and that an adjustment will take place. It is not clear what event  may precipitate such adjustment, whether it will be minor or major, or wether it will take place tomorrow or in a few months.

Meanwhile, well funded investors, with sufficient funds for at least a year's living expenses, would be well advised to keep most of their assets in insured interest bearing cash deposits.