European Banking Crisis

QUESTION: Mr. Armstrong; You have warned that the European bank stocks were in real trouble. They have really collapsed. But you do not comment on them that often. Is there a reason for that?

DJ

ANSWER: Socrates is writing reports on over 1,000 instruments every day. It is impossible for me to comment regularly on everything. Plus, Socrates is supposed to be replacing me. That said, they are covered as the index and individually on Socrates. You can see for yourself that they have not been able to recover and here we have really crashed and burned. I think this simply confirms what I have been saying. Keep in mind that even I am human. I have said plenty of times, whenever my opinion differs from Socrates, it is usually wrong.