h1. FOR THE RECORD

When did you first realize that the financial crisis was very serious? Here's what I was saying and when:

"A prolonged, difficult period of transition is upon us." Connolly Report front page headline of April 2008
Page 2 April 2008 issue headline:PE Ratios are Declining...think lower returns 
Page 4 April 2008: Investment Havens in a time of panic"


"Things are not ridiculously cheap." Connolly Report headline February 2008 issue. this page  is linked under [[Archives|Archives - some report pages]]


__December 2007__
"Be disciplined. Be cautious. Savour cash. Shun debt.  My front page report headline on December 2007
"Standby for a tumultuous 2008" was also on page 1 in December 2007 a quote by Bill Gross 
"My guess is that a great unwinding has begun." Tom Connolly December 2007 front page 640 
  * August 2007: "A severe market drop ...


  * The Americans are eating their seed corn - December 2004 p 568 

  * Because of its dividend growth, I said in my June 2007 report, "Power's shares will not dip below the $30 low of 2006" (POW was then selling at $40.) As I key this in late January 2009, Power is trading at $19.50. I underestimated the extent of the possible carnage...by quite a lot
  * February 2006 (TCR p.594) Barron's asked Jeremy Grantham where he was funneling money. Mr. Grantham's reply: "Cash". 
  * December 1999 front page. The Dow will go to 36,000 'they said'. No said I. Linked under [[Archives|Archives - some report pages]]