From Time Magazine, June 24, 1974:
“As they review the bizarre and unpredictable weather pattern of the past several years, a growing number of scientists are beginning to suspect that many seemingly contradictory meteorological fluctuations are actually part of a global climate upheaval. However widely the weather varies from place to place and time to time, when meteorologists take an average of temperatures around the globe they find that the atmosphere has been growing gradually cooler for the past three decades. The trend shows no indication of reversing. Climatological Cassandras are becoming increasingly apprehensive, for the weather aberrations they are studying may be the harbinger of another ice age.
Telltale signs are everywhere–from the unexpected persistence and thickness of pack ice in the waters around Iceland to the southward migration of a warmth-loving creature like the armadillo from the Midwest. Since the 1940s the mean global temperature has dropped about 2.7 degrees F. Although that figure is at best an estimate, it is supported by other convincing data.”
Investors should be very careful in developing long-term strategies as things do change.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA®
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