Do you remember September ? (click on link for Earth Wind and Fire)

Having just done extensive interview on Bloomberg I will not bother you with my written commentary... hence only a link today:

http://player.clipsyndicate.com/view/225/677757

Labor day is coming - post Labor day it looks like really really ugly September.

One bet is certain: Volatility will go up, up and up.

Strategy:

Short US dollar, short dax + s&P, long short end US FI... short EURCHF, long SGD, JPY.....agriculture, water, starting to buy defense stocks.

Good luck,

Steen


Med Venlig Hilsen Yours Sincerely Steen Jakobsen, Chief Investment Officer, Saxo Fund Management Saxo Bank A/S -London
40 Bank Street, 26th Floor Canary WharfLondon E14 5DA
Phone: +44 (0)207 151 2010 Fax: +44 (0)207 151 2001
Please visit our website at: http://www.saxobank.com/