Let me first say I’m going to duck the question by not doing the reading. I haven’t taken the time to read all his reports. It’s not my area of interest.

Let me also say I have known Mike to be sincere, honest and well meaning at all times, and, when he sees an error, he immediately changes and adjusts. So if he did make an error, and it was pointed out to him, I have no doubt he would modify his position.

This seems to be a necessary trait for successful trading.

My interest in passive commodity investment is from the macro viewpoint.

As I’ve written for many years, allowing pension funds to engage in this active is, at best, counterproductive to public purpose.

http://accidentalhuntbrothers.com/

Why does the curve get smooth after 7/15/08? Answer: he’s extrapolating a trend and the trend he’s fitting is not participation in futures markets, its the price.

Notice his report continually uses notional value, essentially price times quantity. Well if price falls so does notional value. So his “finding” is that if you multiply price times quantity you get a curve that closely matches the price line (it helps too that quantity doesn’t change much).

Wow.

and while i can offer to ‘save the world’ as a matter of conscience, i’m well aware there are no takers at the moment…

“requiring Wall Street dealers who trade on behalf of institutional investors in the commodities markets to reveal much more about the instruments they sell to them to get exposure to commodities prices.”

LOL, several CEO’s are requesting transfers to london or other centers away from new york, because although New York, And congress may not realize it, the USA is not the center of the universe and with the trend to dark pools and offshore trading, they may find they don’t have as much control and relevancy as they think. The global megacorps are bigger than the borders of any one country or any of its rules or its laws or the markets within its borders (the box as you put it in the recent radio show).

Also Warren, you and other people like Mr. Masters are living proof that living in hurricane alley way out in the boonies on isolated islands where their aint much to do is worth the sacrifice for the financial/tax incentives it offers – thereby adding more proof that people will abandon the USA and all her rules and rulemakers and enforcers if they can get a better deal somewhere else. Thinking of you and Mr. Masters I read about these guys in greece that lived up on a mountain, it was called Mt. Olympus – but even the gods couldn’t save Greece when the roman barbarians came.