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Why You Should Care About the Iran Rial Collapse

The Iranian Rial (IRR) has just suffered one of the most cataclysmic crashes in the history of the foreign exchange markets. It is off a mind numbing 90% since the beginning of 2011. One dollar now buys 24,834 Rials. Watch out Zimbabwe! When communications between intelligence agencies suddenly spike, as has recently been the case, […]

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August 7, 2013

Global Market Comments August 7, 2013 Fiat Lux Featured Trade: (MUSINGS OF A DINOSAUR), (THE INSIDE STORY ON APPLE’S STEVE WOZNIAK), (AAPL) Apple Inc. (AAPL)

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Musings of a Dinosaur

I often get accused by readers of being a dinosaur, of being insensitive to the feelings of others, and of living as a relic from a previous age. Well, you all may be right. So it is with some amusement I run a piece that I have lifted from my friend, Dennis Gartman’s The Gartman […]

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The Inside Story on Apple’s Steve Wozniak

I first spoke to Steve Wozniak via HAM radio when I was 12 and he was the 14-year-old president of the Homestead High School radio club in Cupertino, California. With seven children, my dad was pretty stingy with allowance money. But when it came to electronic parts, I had an unlimited budget, as that is […]

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August 6, 2013

Global Market Comments August 6, 2013 Fiat Lux Featured Trade: (AUGUST 9 ZERMATT, SWITZERLAND STRATEGY SEMINAR), (WHY US STOCKS ARE DIRT CHEAP), (SPX), (IWM), (AAPL), (MS), (GS), (TSLA), (USO) S&P 500 Large Cap Index (SPX) iShares Russell 2000 Index (IWM) Apple Inc. (AAPL) Morgan Stanley (MS) The Goldman Sachs Group, Inc. (GS) Tesla Motors, Inc. […]

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August 9 Zermatt, Switzerland Strategy Seminar

Come join me for the Mad Hedge Fund Trader’s Global Strategy Seminar, which I will be conducting high in the Alps in Zermatt, Switzerland at 2:00 PM on Friday, August 9, 2013. A PowerPoint presentation will be followed by an open discussion on the crucial issues facing investors today. Coffee, tea, and schnapps will be […]

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Why US Stocks Are Dirt Cheap

Once again, the hedge fund industry got it wrong. To a man, traders were positioned for a “Sell in May,” a big summer rout, and a chance to hoover up stocks at distressed prices in August. The only problem with this scenario is that it just plain didn’t happen, leaving more than a few traders […]

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August 5, 2013

Global Market Comments August 5, 2013 Fiat Lux Featured Trade: (THE MYSTERY OF THE STRONG EURO), (FXE), (EUO), (THE LONG VIEW OF THE US ECONOMY) CurrencyShares Euro Trust (FXE) ProShares UltraShort Euro (EUO)

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The Mystery of the Strong Euro

I sit here on the Carrera marble paved terrace of the Emperor’s Suite of the Imperial Hotel, in Santa Margherita Ligure on the Italian Riviera. As the sun sets into a languid Mediterranean, a distant church bell tolls, calling the evening mass. A flock of larks perform a spectacular aerobatic display overhead. A never-ending torrent […]

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The Real Estate Market in 2030

A number of analysts, and even some of those in the real estate industry, are finally coming around to the depressing conclusion that there will never be a recovery in residential real estate. Long time readers of this letter know too well that I have been hugely negative on the sector since late 2005, when […]

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August 2, 2013

Global Market Comments August 2, 2013 Fiat Lux Featured Trade: (AUGUST 9 ZERMATT, SWITZERLAND STRATEGY SEMINAR), (THE WORLD’S LARGEST SOLAR PLANT), (DINNER WITH JOSEPH STIGLITZ)

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August 9 Zermatt, Switzerland Strategy Seminar

Come join me for the Mad Hedge Fund Trader’s Global Strategy Seminar, which I will be conducting high in the Alps in Zermatt, Switzerland at 2:00 PM on Friday, August 9, 2012. A PowerPoint presentation will be followed by an open discussion on the crucial issues facing investors today. Coffee, tea, and schnapps will be […]

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The World’s Largest Solar Plant

Unfortunately, I know Blythe, California too well. This natural blast furnace is in a God forsaken corner of the state where I hunted jackrabbits as a kid, the Indians survived on Gila monsters for protein, and it regularly reaches 130 degrees in the shade. It is also where Peter Fonda and Dennis Hopper crossed the […]

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Dinner With Joseph Stiglitz

The great thing about interviewing Joseph Stiglitz over dinner is that you don’t have to ask any questions. You just turn him on and he spits out one zinger after another. And he does this in a kibitzing, wizened, grandfatherly manner like one would expect from a character that just walked off the set of […]

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August 1, 2013

Global Market Comments August 1, 2013 Fiat Lux Featured Trade: (AN EVENING WITH THE CHINESE INTELLIGENCE SERVICE), (FXI), (CYB), (CHL), (BIDU), (PBR), (WMT), (MSFT), (ORCL), (HPQ), (GOOG) iShares China Large-Cap (FXI) WisdomTree Chinese Yuan (CYB) China Mobile Limited (CHL) Baidu, Inc. (BIDU) Petr (PBR) Wal-Mart Stores Inc. (WMT) Microsoft Corporation (MSFT) Oracle Corporation (ORCL) Hewlett-Packard […]

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