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The Worst Trade of All Time

One of the great asset management blunders of all time has to be the European Community’s decision to sell its gold reserves in the wake of the launch of the Euro in 1998. The decision led to the fairly rapid sale of 3,800 tons of the yellow metal at an average price of $280/ounce, reaping […]

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February 18, 2014

Global Market Comments February 18, 2014 Fiat Lux Featured Trade: (LAST CHANCE TO ATTEND THE THURSDAY FEBRUARY 20 MELBOURNE, AUSTRALIA STRATEGY LUNCH) (AN EVENING WITH GOVERNMENT MOTORS), (GM), (BUSINESS IS BOOMING AT ROUGH TIMES), (GLD), (SLV), (CCJ), (NLR) General Motors Company (GM) SPDR Gold Shares (GLD) iShares Silver Trust (SLV) Cameco Corporation (CCJ) Market Vectors […]

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Last Chance to Attend the Thursday, February 20 Melbourne Lunch Invitation

Come join me for lunch at the Mad Hedge Fund Trader’s Global Strategy Update, which I will be conducting in Melbourne, Australia on Thursday, February 20, 2014. An excellent meal will be followed by a wide ranging discussion and a minute question and answer period. I’ll be giving you my up to date view on […]

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An Evening with “Government Motors”

Long-term readers of this letter are well aware of my antipathy towards General Motors (GM). For decades, the company turned a deaf ear to customer complaints about shoddy, uncompetitive products, arcane management practices, entitled dealers, and a totally inward looking view of the world that was rapidly globalizing. It was like watching a close friend […]

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Business is Booming at Ruff Times

Following Howard Ruff for the last 40 years has always been eye opening, if not entertaining. The irascible Mormon is the publisher of Ruff Times, one of the oldest investment letters in the business, and one of the original worshipers of hard assets. Ruff says that any investment denominated in dollars is a mistake, which […]

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February 14, 2014

Global Market Comments February 14, 2014 Fiat Lux Featured Trade: (SATURDAY FEBRUARY 22 BRISBANE AUSTRALIA STRATEGY LUNCH), (DECODING THE GREEBACK), (THE FUSION IN YOUR FUTURE), (WHAT ABOUT ASSET ALLOCATION?)

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Saturday February 22 Brisbane Australia Strategy Lunch

Come join me for lunch at the Mad Hedge Fund Trader’s Global Strategy Update, which I will be conducting in Brisbane, Australia on Saturday, February 22, 2014. An excellent meal will be followed by a wide ranging discussion and a question and answer period. I’ll be giving you my up to date view on stocks, […]

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Decoding the Greenback

If you want to impress your friends with your vast knowledge of financial matters, then here are the Latin translations of the script on the backside of a US dollar bill. “ANNUIT COEPTIS” means “God has favored our undertaking.” “NOVUS ORDO SECLORUM” translates into “A new order has begun.” The Roman numerals at the base […]

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The Fusion in Your Future

Expect to hear a lot about ignition in the next year. No, I don’t mean the rebuilt ignition for the beat up ’68 Cadillac El Dorado up on blocks in your front yard. I’m referring to the inauguration of the National Ignition Facility next door to me at Lawrence Livermore National Labs in Livermore, California. […]

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What About Asset Allocation?

Asset allocation is the one question that I get every day, which I absolutely cannot answer. The reason is simple: no two investors are alike. The answer varies whether you are young or old, have $1,000 in the bank or $1 billion, are a sophisticated investor or an average Joe, in the top or the […]

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February 13, 2014

Global Market Comments February 13, 2014 Fiat Lux Featured Trade: (THURSDAY FEBRUARY 20 MELBOURNE, AUSTRALIA STRATEGY LUNCH) (THERE ARE NO GURUS), (WATCH OUT FOR THE MILLENNIAL VOTER) (TESTIMONIAL)

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Thursday, February 20 Melbourne Lunch Invitation

Come join me for lunch at the Mad Hedge Fund Trader’s Global Strategy Update, which I will be conducting in Melbourne, Australia on Thursday, February 20, 2014. An excellent meal will be followed by a wide ranging discussion and a minute question and answer period. I’ll be giving you my up to date view on […]

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There Are No Gurus

If there was ever an argument that you should rely on independent newsletters for guidance about financial markets, such as The Diary of a Mad Hedge Fund Trader, and not traditional brokerage houses, take a look at the chart below from JP Morgan. It shows that despite all of the reforms passed after the dotcom […]

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Watch Out for the Millennial Voter

I have been banging the table for years now about the importance of demographic trends for the economy, the financial markets, and the housing market. Well, politics is no different. According to recent surveys, Millennials, who are now aged 23-34 (I have three of them) are suspicious of government, have a strong anti-business bias, are […]

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February 12, 2014

Global Market Comments February 12, 2014 Fiat Lux Featured Trade: (GET READY FOR THE NEXT GOLDEN AGE), (SPY), (QQQ), (IWM), (EEM), (KOL), (USO), (UNG), (TSLA), (NSANY), (FXY), (YCS), (FXE) SPDR S&P 500 (SPY) PowerShares QQQ (QQQ) iShares Russell 2000 (IWM) iShares MSCI Emerging Markets (EEM) Market Vectors Coal ETF (KOL) United States Oil (USO) United […]

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