As always, I start the day early (0600 AM) and spend the first hours thinking. What to do now? There is a guy out there in San Francisco who seems to know and he says it is time to take a vacation.
When I was running my big hedge fund and delivered outsized returns like this, I went 100% into cash, embarked on a long vacation... I went on these sabbaticals because whenever I brought in stellar gains, mean reversion had the nasty habit of taking them away. Cash looks like the best investment of all right now. Better to lock in that performance, keep your powder dry, and live to fight another day.He mentions Monsanto (MON), Mosaic (MOS), Potash (POT), and Agrium (AGU). Accidents are about to happen in their favor. He thinks food is the next playground. Soros is buying land in Argentina (a place he knows through prewar Hungarian novels by Rejto Jeno). He may be thinking that the pre-WWI world trade order will be re-established. I dont think so. Food production is now quite independent of land and climate. And gauchos (the local cow boys aka peones) are not like Douglas Fairbanks.