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November 5, 2012 — Quote of the Day.

“If we’re looking at a new normal economy, you’re going to see slow growth going forward, something like 3%-6% for both stocks and bonds. You are not looking at double digit growth for any investor that we had in the past,” said Bill Gross of bond giant PIMCO.

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Economic Policy for the Second Obama Administration.

The call came in from Treasury Secretary, Timothy Geithner’s office. He was inviting me to join a select group of hedge fund managers to suggest economic policy priorities for the second Obama administration. He was leaving the job in three months, and wanted to make sure I knew the key career staffers who would carry […]

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November 2, 2012 — Quote of the Day.

“If it bleeds, we can kill it”, said former governor, Arnold Schwarzenegger, in the hit movie, Predator.  

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My 2012-13 Stock Market Forecast.

I see four black swans inbound on my radar. When they land, they will have a major impact on your investment performance this year and next. Get it right, and you should end up among the top of your investing peers. Misread the cues and you will go down in flames. It’s that simple. Let […]

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October 31, 2012 — Quote of the Day.

“It is not the strongest of the species that survives, nor the most intelligent, it is the one that is the most adaptable to change,” said the discoverer of evolution, Charles Darwin  

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Note to Readers:

I finally heard from my research man in New York. There is no power in midtown Manhattan, and life is pretty boring living by candlelight on the 35th floor of a building with no elevator. So he stopped at a KFC long enough to charge a cell phone battery and call me to tell me […]

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The Bank of Japan Delivers on More QE.

 As I expected, last night, the Bank of Japan expanded its quantitative easing program by ¥11 trillion yen ($138 billion) to ¥66 trillion yen. The cumulative size of the Japanese monetary stimulus program is now a staggering ¥66 trillion, or $825 billion. Virtually everyone in the hedge fund universe expected this desperate move to prompt […]

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How to Avoid Ponzi Schemes.

I spent a sad and depressing, but highly instructional evening with Dr. Stephen Greenspan, who lost most of his personal fortune with Bernie Madoff. The University of Connecticut psychology professor had poured the bulk of his savings into Sandra Mansky’s Tremont feeder fund; receiving convincing trade confirms and rock solid custody statements from the Bank […]

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October 31, 2012 — Quote of the Day.

“A lie can travel half way around the world before the truth gets its boots on,” said the 19th century humorist, Mark Twain.

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Hurricane Sandy and Your Portfolio.

It’s only Monday, but what a week it’s been! First, the hometown San Francisco Giants win the World Series, sparking a riot downtown, causing cars to be overturned and windows smashed. Then, I get an unexpected two-day vacation when hurricane Sandy closes all stock and bond trading in the United States. Even my own New […]

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My Corn Short is Looking Good.

Corn continued to grind lower last week, giving up ground from the near record draught-induced highs last summer. That bodes well for those running short positions in the grain such as the enthusiastic followers of my Trade Alert Service. The decline picked up steam thanks to a report from the U.S. Department Of Agriculture indicating […]

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October 30, 2012 — Quote of the Day.

“The Black-Scholes model of options pricing dramatically misprices options at secular turning points,” said Kyle Bass of hedge fund Hayman Capital Management.

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SOLD OUT – November 7, 2012 Houston Strategy Luncheon.

Come join me for lunch for the Mad Hedge Fund Trader’s Global Strategy Update, which I will be conducting in Houston, Texas on Wednesday, November 7, 2012. A three-course lunch will be followed by a PowerPoint presentation and an extended question-and-answer period. I’ll be giving you my up to date view on stocks, bonds, currencies, […]

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Why Gold Has Turned Into Paper.

One of the most amazing things that has happened in the global capital markets in the past month is that gold and silver have turned into equities.  You know, those precious metals that were supposed to be a store of value and a safe haven during troubled times? They have morphed overnight from hard assets […]

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Report From Your World Series Correspondent.

You knew this was going to be one hell of an event when the people waiting in line to enter San Francisco’s cool, retro AT&T Park were so pumped up on adrenaline they were practically levitating off the ground. They were high from a few other things too, with the smell of incense pervading the […]

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