The above quote is one that I have carried on the bottom of my stationery for many years.

Loosely translated it means, BUY at the sound of the cannons (wars) and SELL when the banner of victory is raised.

Barron Rothchild lived from 1845 to 1934 and was the Bill Gates of his day, i.e, the richest man in the world.   He made this huge fortune in banking and the stock market.  He was an investor, that is, he never ran a company or invented anything, he was just a very prudent investor.  This reminds me of Warren Buffett (who just yesterday gave $30 BILLION dollars to charity).  He, also, made all of his fortune in the investment world.

If these guys made all their fortunes by investing when things appeared very dark and holding until they raised the banner of victory, I think they just might be on to something as the same rationale has held true for at least the last 100 years.

I must mention that it is very close to daybreak, at which time the sun will shine very brightly.

We are beginning to buy some very obvious values with very bright economic futures.

Have an absolutely wonderful 4^th of July—is this not a wonderful country?

Warm regards,

Jack