Some of you are old enough -- not all of you -- but remember back in the '80s how everybody was saying, oh, Japan is taking over and they're buying everything here and we're ondecline?
Gunn is willing to take some short-term hits on these stocks--buying more as they decline--because he expects them to pay off over the next four to five years.
Just as the 1950s boom in car sales was fuelled when car companies lengthened the credit period onbuying new cars from 24 to 36 months, so the decline in personal saving in recent years has much to do with the ease of borrowing.