July 6, 2012 – Quote of the Day

“When the fools are dancing, the greater fools are watching,” according to an old Japanese proverb.

Read full story Comments are closed

Goodbye BRIC, Hello N-11

Jim O’Neill, the clever Goldman Sachs analyst who came up with the term “BRIC” a decade ago, has cooked up a new, catchy investment theme. Get ready for the “N-11”, shorthand for the “New 11”, a gaggle of early stage emerging markets who will become the inheritors of the BRIC’s high growth rates. The basic […]

Read full story Comments are closed

The Future in Consumer Spending

As part of my never ending campaign to get you to move more money into emerging markets, please take a look at the chart below from Goldman Sachs. It shows that the global middle class will rise from 1.8 billion today to 4 billion by 2040, with the overwhelming portion of the increase occurring in […]

Read full story Comments are closed

The History of Technology

I have just finished leisurely reading Tom Standage’s book The Victorian Internet: The Remarkable Story of the Telegraph and the Nineteenth Century On-Line Pioneers. Standage discusses the creation and development of the telegraph system and how it revolutionized communication in the nineteenth century. The book claims that Modern Internet users are in many ways the […]

Read full story Comments are closed

The New Cold War

My friend, Ian Bremmer of the Eurasia Group, a global risk analyst who I regularly follow, will soon publish another book entitled The End of the Free Markets: Who Wins the War Between States and Corporations. I find this highly depressing, as it takes me as long to read one of Ian’s books as it […]

Read full story Comments are closed

July 5, 2012 – Quote of the Day

Sometimes we stare so long at a door that is closing that we see too late the one that is open,” said Alexander Graham Bell, inventor of the telephone.

Read full story Comments are closed

SOLD OUT! Last Chance To Come Join Me for the July 5, 2012 New York Strategy Seminar!

Come join me for the Mad Hedge Fund Trader’s Global Strategy Seminar, which I will be conducting in New York, NY on Thursday, July 5, 2012. Coffee, tea, and soft drinks will be provided, but no food. A PowerPoint presentation will be followed by an extended question and answer period. I’ll be giving you my […]

Read full story Comments are closed

Look at Home Price in Terms of Gold

Every day, I get pounded by experts who insist that the bottom is here in real estate and that it is time to load the boat. I therefore find the chart below pricing US residential real estate in gold for the last 40 years. After peaking in 2002, house prices have death spiraled 75% when […]

Read full story Comments are closed

The China View from 30,000 Feet

I have long sat beside the table of Mckinsey & Co., the best management consulting company in Asia, hoping to catch some crumbs of wisdom. So, I jumped at the chance to have breakfast with Shanghai based Worldwide Managing Director, Dominic Barton, when he passed through San Francisco visiting clients. These are usually sedentary affairs, […]

Read full story Comments are closed

The Service Job in Your Future

Anyone wondering about the long term future of the US economy should take a look at the chart below. It shows the unrelenting growth of services’ share of American GDP growing from 25% to 45% over the last sixty years. Far and away the fastest growth area has been in health care, and with the […]

Read full story Comments are closed

The Hard Truth About Residential Real Estate

Anyone who believes that housing is on the rebound, and that now is the time to buy, should take a very hard look at the numbers I dredged up for my spring lecture and luncheon tour. There are 140 million personal residences in the US. Today, there are 19 million homes either directly or indirectly […]

Read full story Comments are closed

July 3, 2012 – Quote of the Day

“The art of taxation consists of so plucking the goose as to obtain the largest amount of feathers with the smallest amount of hissing,” said Jean-Baptist Colbert, a 17th century French minister of Finance.

Read full story Comments are closed

The Gold Rush in Iraq

The success of the recent oil auctions in Iraq is creating a windfall for American oil services companies. Schlumberger (SLB), Baker Hughes (BHI), Weatherford (WFT), and Halliburton (HAL) have committed to drilling 2,500-3,000 new wells per year and building new pipeline and shipping terminal infrastructure that could make the country the world’s largest oil exporter. […]

Read full story Comments are closed

The US Balance of Payments Surplus in Education

I spent the weekend attending a graduation in Washington state, a stone’s throw from where the 2010 Winter Olympics were held last year. While sitting through the tedious reading of 550 names, and listening to the wailing bagpipes, I did several calculations on the back of the commencement program. I came to some startling conclusions. […]

Read full story Comments are closed

An Evening With Malcolm Gladwell

I spent an evening with the New Yorker Magazine columnist, Malcolm Gladwell, author of The Tipping Point, Blink, and Outliers, and probably the most prolific publisher of original, consensus challenging ideas today. Half English and half Jamaican, the preeminent challenger of clichés and stereotypes was himself a cliché and a stereotype, wearing the standard issue […]

Read full story Comments are closed