With interest rates and inflation topic number one of the day, everyone has their favorite inflation indicator. The Fed has its, you have yours, and well, I have mine. My former employer, The Economist, once the ever-tolerant editor of my flabby, disjointed, and juvenile prose (Thanks Peter and Marjorie), has released its “Big Mac” index
Global Market Comments October 31, 2023 Fiat Lux ANOTHER SPECIAL SOLAR ISSUE Featured Trade: (HOW TO BUY A SOLAR SYSTEM), (SCTY), (SPWR), (TSLA), (USO)
Global Market Comments October 30, 2023 Fiat Lux Featured Trade: (MARKET OUTLOOK FOR THE WEEK AHEAD, or THE TRAPPED MARKET) (TSLA), (NVDA), (GOOGL), (AMZN), (NLY)
I should have stayed in Ukraine. At least that way I would know which direction the fire was coming from, the east. Back here in the US markets, the fire seemed to be coming from every direction all at once. Good news was bad news and bad news even worse. An S&P 500 down 2.5%
"Freedom of the press is only true if you own a press," said A.J. Liebling, a famed journalist for the New Yorker.
Global Market Comments October 27, 2023 Fiat Lux Featured Trade: (SIX REASONS WHY GOLD WILL CONTINUE RISING), ($GOLD), (GLD), (IAU), (NEM), (GOLD), ($TNX), (A CONVERSATION WITH THE BOOTS ON THE GROUND)
If you are a current gold investor, you have to love the latest monthly statistics just published by the World Gold Council. After years of a death by a thousand cuts inflicted by endless redemptions of gold ETFs and ETNs, recent reports showed a sudden influx into the barbarous relic. North American ETFs led the
I have spent many hours speaking at length with the generals who are running our wars in the Middle East, like David Petraeus, and James E. Cartwright. To get the boots-on-the-ground view, I attended the graduation of a friend at the Defense Language Institute (DLI) in Monterey, California, the world's preeminent language training facility. As
“The Fed only knows two speeds; too fast, and too slow,” said Nobel Prize-winning economist Milton Friedman to me over lunch one day.
Global Market Comments October 26, 2023 Fiat Lux Featured Trade: (LAST CHANCE TO ATTEND THE OCTOBER 31 MIAMI, FLORIDA STRATEGY LUNCHEON) (THE REAL ESTATE MARKET IN 2030), (XHB), (ITB), (LEN), (INDUSTRIES YOU WILL NEVER HEAR FROM ME ABOUT)
Come join me for lunch for the Mad Hedge Fund Trader’s Global Strategy Update, which I will be conducting in Miami, Florida at 12:00 PM on Tuesday, October 31, 2023. A three-course lunch is included. I’ll be giving you my up-to-date view on stocks, bonds, currencies commodities, precious metals, and real estate. And to
A number of analysts, and even some of those in the real estate industry, think that there will never be a recovery in residential real estate. With 8.0% mortgage rates who can blame them. Long time readers of this letter know too well that I went hugely negative on the sector in late 2005, when
The focus of this letter is to show people how to make money through investing in fast growing, highly profitable companies which have stiff, long term macroeconomic winds at their backs. That means I ignore a large part of the US economy, possibly as much as 70%, whose time has passed and are headed for
Global Market Comments October 25, 2023 Fiat Lux Featured Trade: (AN EVENING WITH THE CHINESE INTELLIGENCE SERVICE), (FXI), (CYB), (BIDU), (CHL), (BYDDF), (CHA)
The current chip war with China brings back memories of my five-decade-long relationship with the People’s Republic of China. I normally avoid the diplomatic circuit, as the few non-committal comments and soggy appetizers I get aren’t worth the investment of time. But I jumped at the chance to celebrate the 62nd anniversary of the founding
Global Market Comments October 24, 2023 Fiat Lux Featured Trade: (POPULATION BOMB ECHOES), (MOS), (AGU), (WEAT), (CORN), (SOYB), (RJA) (A SHORT HISTORY OF HEDGE FUNDS)
Legendary Fortune Magazine editor, Winslow Jones, created the first hedge fund out of a shabby office on Broadway Avenue in New York City in 1948 and generated monster returns over the next 20 years. He got the idea of a 20% performance bonus, now an industry standard, from ancient Phoenician sea captains who kept a
“Wall Street denizens are always ready to suspend disbelief when dubious maneuvers are used to manufacture rising per-share earnings , particularly if these acrobatics producer mergers that generate huge fees for investment bankers,” said Oracle of Omaha, Warren Buffet.
Global Market Comments October 23, 2023 Fiat Lux Featured Trade: (MARKET OUTLOOK FOR THE WEEK AHEAD, or WAS THAT THE CAPITULATION?), (SPY), (TLT), (TSLA), (NVDA)
It’s very relaxing writing here in West London, recovering from my injuries. No air raid alerts, no incoming missiles, no heavy artillery. The people you encounter are upbeat and optimistic, not haggard, sleep-deprived, and war-weary. I just knock out a newsletter and then head for the King’s Head for a pint of Guinness and a