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September 12, 2012 — Quote of the Day

“This has been the worst year for active managers in history. We have never seen numbers of people missing benchmarks so large. As the markets have moved up, the tracking error has grown. People are missing about a third of the upside in the markets,” said Thomas Lee, a chief equity strategist at JP Morgan. […]

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My Fed Call.

My Fed Call. Survey traders and investors today, and you will find that 99% believe further quantitative easing via QE3 will be announced on Thursday. Poll vote Fed governors and you get a more realistic 50% probability. I think it is much less than that – and therein lies the trade. I think that markets […]

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Another Trade Alert Service All-Time High.

Global Trading Dispatch’s Trade Alert Service posted a new all-time high yesterday, clocking a 63.2% return since inception. The 2012 YTD return is now at 23.05%. That takes the average annualized return up to 33.3%, ranking it among the top performing hedge funds in the world. Those happy subscribers who bought my service on May […]

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Don’t Miss the September 12 Global Strategy Webinar.

My next global strategy webinar will be held on Wednesday, September 12 at 12:00 noon EST. This webinar will be broadcast from back home in San Francisco, so everything should work. I’ll be giving you my updated outlook on stocks, bonds, commodities, currencies, precious metals, and real estate. The goal is to find the cheapest […]

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Buy the Big Dip in Gold.

Look at the charts for the barbarous relic below and you can only come to one possible conclusion. If the Federal Reserve disappoints on Thursday, just a little bit, even by a smidgeon, and does not deliver QE3 and gold sells off big, you should jump in and by the stuff like crazy. All of […]

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September 11, 2012 — Quote of the Day

“Inflation steals from savers, and inflation is the logical consequence of printing too much money,” said Oracle of Omaha, Warren Buffett.

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The China News is Big.

NOTE TO READERS: There is a short letter today because I spent the entire weekend writing Trade Alerts, which you will receive right at the Monday morning opening. Last Friday, China announced a $150 billion reflationary public works budget designed to arrest the current free fall in the country’s GDP growth rate. The move came […]

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Who is Ben Bernanke?

Since nothing less than the fate of the free world depends on the judgment of Ben Bernanke these days, I thought I’d touch base with David Wessel, the Wall Street Journal economics editor, who has just published In Fed We Trust: Ben Bernanke’s War on the Great Panic. I doubted David could tell me anything […]

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September 10, 2012 – Quote of the Day

“Over the next several years, you will be shocked and surprised at the strength of the emerging Chinese consumer,” said Stephen Roach, the former Chairman of Morgan Stanley Asia.

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Trading 101.

A number of readers have asked me why I’m not trading now. Since I put out my calls to sell Treasury bonds in August (click here for “The Great Treasury Bond Crash of 2010” ), and buy US stocks in September (click here for “My Equity Scenario for the Rest of 2010” ), I have […]

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September 7, 2012 – Quote of the Day

“No matter who wins the election, we still have a lot of wood to chop. There is no way we continue to run huge deficits without a severe market consequence,” said my old friend and former client, Leon Cooperman, CEO of mega hedge fund Omega Advisors.    

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The New California Gold Rush.

The gold rush is back on in California. On my way back from Lake Tahoe recently, I saw that every bend of the American river was dotted with hopeful amateur 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 […]

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The Best Financial Book Ever.

I have just finished reading the best financial book ever, and I have read most of them. It is The Ascent of Money: A Financial History of the World by Harvard professor Niall Ferguson. It gives you a great explanation of how the broad sweep of history delivered us to the doorstep of today’s crisis. […]

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September 6, 2012 – Quote of the Day

“The most expensive advice that you will ever get is to be told at a market top that “This time it’s different,” said Harvard economics professor Kenneth Rogoff  

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I Can’t Wait Until September 12.

Those who have been dying of boredom during August — the lowest volume, tightest ranging month in many years — may be about to get their respite. September 12 (or Wednesday next week) offers a potential cornucopia of either fantastically good or terribly bad news, and maybe both. Let me give you a program of […]

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