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Real estate shares traded lower as investors saw recession translating into weak property prices.
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Made shrewd long-term investments in steel, gold, oil, thanks to prescience of daughter turned financial advisor Alice; saw recessions coming, invested early in Wal-Mart, Apple.
"I don't see recession," Mr. Jacobs said.
But no one sees recession along the path.
The government now sees recession stretching into 2013, with the economy shrinking by 0.5% next year.
A year ago, a glum Silicon Valley executive, seeing recession on the horizon, told me, "Only a war can save us now".
Eurozone sees recession deepen.
(See "Recession Fears Sink The Dollar").
(See "Recession Hits Europe's Export King").
(See "Recession Misses France, Hits Italy").
Unless you see recession around the corner, not my call, fixed charges coverage waxes more comfortably.
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