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The years 2000 and 2001 were not easy years for investors in general.  After a long run of economic growth, the tide took a downturn. 

Aktien, Obligationen und Optionsanleihen 

1996 was another good year, which we did not expect but in which we participated. Fortunately we are investors who are slow to buy and even slower to sell. It really paid to be patient. 

Over the last three months, an anticipated mild correction has turned into a nasty major decline that threatened to put at risk the world financial system.