Chicago?s Union Station is one of those places that is permanently jammed. Commuters rushing to catch trains run into bottlenecks at every turn. Today, they were fleeing a freezing rain outside that left the city?s skies a leaden overcast. The entire station smelled of wet wool. Only the Great Hall, which was setting up for
Thank you for a terrific year.? I have been managing assets for 27 years and I find your writings and work truly insightful.? I wish I had met you in 1984 (started at Merrill Lynch and then spent the bulk of my career at Bear Stearns) and let you help me shape my thoughts for
?Our medical technology has completely outstripped our ability to pay for it,? said Boris Schlossberg, a foreign currency strategist at BK Forex Advisors.
When climbing peaks in the Alps, the High Sierras, or the Himalayas, you know you?re getting close to the top when the air becomes thin, it is difficult to breathe, and your nose suddenly starts to bleed. I remember trying to smoke a cigarette at 20,000 feet on Mount Everest. If you didn?t keep puffing
Have I seen this movie before? Three years ago, analysts were predicting default rates as high as 17% for Junk bonds in the wake of the financial meltdown, taking yields on individual issues up to 25%. Liquidity in the market vaporized, and huge volumes of unsold paper overhung the market. To me, this was an
?2012 will be the third year of living dangerously,? said Ed Yardeni of Yardeni? Research.
Some people will do anything for a good stock tip. Futures magazine, published a complimentary profile about me in their recent issue. The publication is associated with the highly educational and informative annual Hard Asset Conferences in New York, San Francisco, and soon to be Chicago, where I have been a regular keynote speaker and
There is no doubt that the recent jobs data has been absolutely blistering. On January 4, weekly jobless claims plunged by 15,000 to 372,000, well below the 400,000 that is required for a sustainable recovery. The next day, the ADP report delivered a gob smacking 325,000 in job gains for December. Then the big kahuna
Call me a nerd, but instead of spending my Sundays watching the NFC playoffs, I pour over data analyzing the monetary aggregates. This is so I can gain insights into the future performance of assets classes. What I am seeing these days is not just unusual; it?s bizarre. Call it a double reverse, a Hail
?Housing in terms of price has put in a real bottom. I?m not looking for a housing bull market. We are in the second phase of a housing bear market. But the good news is that we can correct the rest of the way back to the long term trend through time, rather than price