Gekko

AS I have been foolish enough to make rate and price predictions over the past six months, I thought it might be time to look back and see how Gekko did. (I’ve started referring to myself in the third person after listening to recorded Bob Dole speeches.) So far, not so bad.

Back in the July 31 issue, I suggested that contrary to what a group of economists was saying in the Wall Street Journal, wheat was a buy at $4.43 a bushel. Russian and Chinese buying, along with low inventories, has now driven the price to $5.21 on the March contract. Also, I said that the copper market manipulators who were rigging the market to keep the price close to $1.40 a pound were bound to fail big. The nearby copper futures contract just closed at $112.50 a pound— no fun if you switched to The Weekly Standard and stayed long. You have only yourself to blame.

JD

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John Dizard

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AS I have been foolish enough to make rate and price predictions over the past six months, I thought it might be time to look back and see how Gekko did. (I’ve started referring to myself in the third person after listening to recorded Bob Dole speeches.) So far, not so bad.

Back in the July 31 issue, I suggested that contrary to what a group of economists was saying in the Wall Street Journal, wheat was a buy at $4.43 a bushel. Russian and Chinese buying, along with low inventories, has now driven the price to $5.21 on the March contract. Also, I said that the copper market manipulators who were rigging the market to keep the price close to $1.40 a pound were bound to fail big. The nearby copper futures contract just closed at $112.50 a pound— no fun if you switched to The Weekly Standard and stayed long. You have only yourself to blame.