Anyone who has any illusions about the Canadian tar sands business should take a look at the picture below. I’m not a fanatic, sandal wearing, organic bean sprout eating environmentalist, but just looking at it tells you that this is an eco-disaster of Biblical proportions. A $50 billion investment by several firms over the last [...]

On my way back from Lake Tahoe last weekend I saw that every bend of the American river was dotted with hopeful miners, looking to make a windfall fortune. Weekend hobbyists were there panning away from the banks, while the hardcore pros stood in hip waders balancing portable pumps on truck inner tubes, pouring sand [...]

I managed to catch up with my friend, Harry Dent, the other day, the guru on all things demographic (click here for his site at http://www.hsdent.com/ ). Regular readers of this letter are well aware of the enormous headwind impeding all assets classes caused by the retirement of 80 billion baby boomers, which started in [...]