Michael Panzner is a front-line industry professional who wrote a terrific book called "The New Laws of the Stock Market Jungle", which I have reviewed in my blog, and followed up several months later with additional discussion. I recommend everybody buy this book.

Early in March, Panzner wrote a piece about a major shift to cash in global markets, which I started to tell you I was doing in 2H05.

He is a friend of mine who would, I'm presupposing, care to answer your questions about why he wrote the book and what he sees as the big picture dangers today. So, without forewarning, I'll ask you to append your queries here, and then I'll forward them to Michael for his response.

The game is in extra-innings. It is time to protect yourself.