An Islamic poem contains some relevant investment wisdom.

I have enjoyed the 14th Century Sufi poet Rumi for many years. Because of this I studied for quite some time with a Sufi Master and learned they are very devout, incredibly peace loving people. To blame Islam for the recent terrorist attacks is akin to blaming everyone named Timothy for the Oklahoma City bombing of the Federal building. One particular poem entitled "I Want Burning" tells the story of a chick pea lamenting its fate as it is thrown into the pot. Then the Chef explains the good that will come from this process and describes the delicious meal the pea will provide, "Cook me, stir me, boil me" the pea cries in its ecstasy for the transformation that will take place.

The investing analogy is that these troubles and the economic woes we now face will bring transformation in the market, just as other crashes such as in 1929, 1968, did. A Phoenix will arise from the ash.

The market has not been sliding because of the terrorist attack. The market is going where it wants and should. The attacks are just an excuse. This trouble expedited what could have otherwise been a long drawn out process. This forces us to accept the hard, but facts reality faster. This is good because the best way through trouble is straight through. Let's adjust and get on with our lives.

The current share collapse is bringing share prices into line but they are most likely not at the bottom yet. EClub advisor Andi Kaegi akaegi@bpcs.ch in his monthly update agrees when he writes.

	"Dear readers,		The market retreat that we expected to happen over several weeks has 	now occurred in a short numbers of days - but still gives no green 	light to alter our months long strategy.		- Still underweighting equities - Keep a prudent stance - Still 	realizing profits fast - Not in a hurry for new positions		Those were our comments to you since May to August of this year. In 	comparison to the results of many of our competitors this was a very 	successful strategy, but only relatively speaking as even on this 	prudent basis negative results over the last few months could not be 	avoided completely. On Sept. 11 we cancelled all our open buy limits 	and for the time being we postpone our regular "market possibilities" 	update with suggestions on individual stocks.		We will alter our strategy sometime in the future, but not yet at this 	writing. Many major market indices are close to important support 	levels; should they break there is still ample room on the downside.		However, one thing we are sure of: There will be plenty of 	opportunities arising out of this ongoing correction. Price 	competition among stocks will be strong and it will be important to 	buy value for money - so be prepared - and question whether stocks you 	contemplate to invest in are really cheap:		- Is the stock trading well below the dip it recorded in the 1998 	trough? - Is it as cheap as in the years 94 to 96 and is the company 	still making profits and paying a dividend?		Our next update will appear as soon as more reliable data is available 	and until then we wish you good investing.

Andy's market update of September 3 is at http://www.garyascott.com/market/365/

The stock market is burning as is mankind and from this will come some good. These lives have not been lost in vain. Western society has been drawn closer together than before.

Stay calm and get ready. Some great opportunities are on the horizon.

I am off on a trip Monday, if for no other reason the send this message to terrorism, "We will not stay at home because of you! " So I have loaded messages for you each day and will return in a week. Until then, good global business and investing.

Gary

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