Hi Qwerty
Did he learn much from you?
Brendan
He-he!
Didn't realise you respected my opinion so much Brendan
For anyone who has read his book, he basically relayed all that again.
It was very good getting it straight from the man himself though.
He spoke of different seemingly basic techniques he has used to get his slight edge over the market.
he was a guest speaker of delta index.
last year they had mark shipman.
Quite similar to shipman in a lot of respects.
One notable difference was that farleighs talk was very much about what/when to buy based on fundamentals and then uses the market trend to determine his entry.
As in - Buy such-and-such an asset class (e.g. bonds,stocks etc.) when certain economic conditions occur,etc.
WHereas shipman was far more focussed on exactly what to do once the fundamental nalysis has been done.
i.e. Once the asset class has been decided upon, then he focusses on when exactly to buy using moving averages/breakouts,how much to risk,when to exit etc. (So he didn't spend much time on how to determine fundamentral analysis - he basically took up the baton once that has been decided)
SO while the basics were the same i.e. choose an asset class by fundamentals and time your entry using charts; the emphasis was on different areas by both.
So they complemented each other well in that regard.
Curiously - unlike shipman (and a lot of others) - farleigh was not bullish on commodities.
He believes the optimum time to invest in commodities is when inflation is high and economic growth is high.
HE believes the first condition is satisfied but not the second (obviosuly referring to the US/west)
Clearly he believes the dominant force in global economics is teh US for the time being - others commodity bulls clearly believe china and others are/will be the driving force.
Only time will tell who's right i guess.
As for what people should invvest in now, he believes the current economic climate is high inflation - negative growth.(i.e. stagflation) (Again - referring to the US/west - again in my book a case of him reinforcing his belief that the US is the global economy for a while yet)
As a result he thinks this is the most difficult time to make money - so he prewtty much said keep your money in your pocket for the time being.
The current climate in his opinion is similar to the stagflation times of teh 70's