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James S. Kinnear
Henry Groppe
Larry Jeddeloh
- New
Murray Pollitt
J.H. Bragdon
Dr Michael Berry
Dean LeBaron
John Embry
Donald Lindsey
Ron Meisels Eric Sprott
John Budden's
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March 3, 2008:
My Faith in American Justice by CONRAD BLACK
February 28, 2008: Compliments of the Wall Street
Journal...Trader
Hits Jackpot in Oil,
As Commodity Boom Roars On Mr. Hall Bet Early On
Market Shift; Buoying Citigroup by ANN DAVIS
March 4, 2008: Compliments of The Daily Reckoning...
Nip and Tuck by Chris Mayer
January 28, 2008: Compliments of the New York Sun...
World Class Chump by Conrad Black (dated but
well worth reading)
February 12, 2008 --
"The Republican party established and will continue
to uphold the gold standard and will oppose any
measure which will undermine the government's credit
or impair the integrity of our national currency.
Relief by currency inflation is unsound in principle
and dishonest in results." Republican National
Platform, 1932 (quote courtesy of James Dines).
February 11, 2008: Compliments of Barron's...This
Credit Crisis Has a Long Way to Run Interview
with Jeremy Grantham, Chief Investment Strategist,
GMO by SANDRA WARD
February
6, 2008: As always, excellent economic comment... Compliments of CIBC World
Markets...
Economic Flash! by Jeff Rubin, Chief
Strategist
February 6, 2008: Thanks to for this very
interesting observation and link... John, Please
review the following link, I refer to the
Federal Reserve of the United States Statistical
Release. In one sentence, US banks have no money
right now.
It's a time to be cautious. You will notice in the
second column, that reflects non-borrow reserves as
of January 2008, that the banks have no money for
reserves themselves. This seems to indicate that, on
balance, banks are borrowing 100% of their reserves;
a very serious issue. I strongly recommend you to
possess physical gold, at least for some percentage
of your portfolio.
February 5, 2008: "Deja vu all over again"... Yogi
Berra
Super Tuesday and IT'S THE ECONOMY, STUPID! -
"formulaic reminder of central issue or goal. James
Carville, Bill Clinton's political strategist in the
1992 election, placed a sign over his desk in the
Little Rock headquarters: 'It's the economy,
Stupid!' For a campaigner fixed on a need for a
central theme, the sign encapsulated a pointed
response to the question 'What is the campaign
about?'."
January 26, 2008:
Job Description – Rogue Trader The following is
an extract from “Traders, Guns & Money: Knowns &
Unknowns in the Dazzling World of Derivatives”by
Satyajit Das
January 23, 2008: So, how much does it cost to go to
Davos? Andrew Ross Sorkin reports for the New York
Times:
Merely to be eligible for an invitation, a corporate
leader must pay an annual fee of 42,500 Swiss
francs, or nearly $39,000. On top of that, he or she
has to pay an additional $20,000 or so to attend the
conference. (That's just the cost of admission —
private planes, limousines and fancy ski outfits
are, of course, extra.)
And what if business executives want to get invited
to some private sessions for industry leaders? The
annual cost for that is close to $230,000.
The tab rises to about $412,000 (450,000 Swiss
francs) if you want to be counted among the
conference's strategic sponsors and bring a
delegation of up to five along for the fun.
Yikes. The funny thing about business leaders is
that they could probably get the same information
and meet the same intellectual and government
contacts elsewhere for free, but they pay the
exorbitant fees anyway. After all, such individuals
are famous and sought after because they're always
sharing their ideas in the public arena. Of course,
any such encounters probably wouldn't be as
convenient, and they certainly wouldn't be as fun.
As Tharoor put it, there is "something heady and
exhilarating about being able to have them all in
one spot in such a short span of time."
January 23, 2008: January 2008 Investment Outlook...
Pyramids Crumbling by Bill Gross
January 21, 2008: It is time to revisit a brilliant
and prescient piece ...
Falling Off the Tulip Truck
originally published by David Chuhran on January 1,
2004
JANUARY 18, 2008: Compliments of the globe and
Mail...
Where to turn during downturns?
Professionals weigh in on the best options for
self-directed investors during difficult economic
times by THERESA EBDEN
January 18, 2008: Congratulations to Jeff Rubin and
his team at CIBC World Markets on a superb bit of
analysis;
starting with...Does
It Matter?
January 12, 2008: Transcript of Jim Paplava's
excellent interview with Marc Faber... Author, "The Road to
Ruin" "What's Ahead in 2008"
January 3, 2008:
Compliments of our good friend Larry Jeddeloh of the
TIS Group;
strategist and technician extraordinaire who has
kindly allowed me to post today's exceptional MIR
entitled
Inflation.
No institutional or wealthy individual investor (who
wants to stay wealthy and become richer) should be without Larry's superb research.
The nightly MIR is available at an annual cost of $8,000
(U.S.) p.a.
December 31, 2007: Compliments of Barron's... UP
AND DOWN WALL STREET;
Anything but Dull by ALAN ABELSON
December 31, 2007: IMPORTANT -- This is the first time
in history that gold has closed any month or any year at
800 or above!
December 29, 2007: Compliments of the Financial Times,
"China To Trade Gold Futures Contracts. Beijing
yesterday approved the launch of China's first gold
futures contracts, with simulated trading on the
Shanghai Futures Exchange set to begin on Wednesday. The
exchange is expected to begin selling real renminbi-denominated
contracts soon after and is preparing for huge demand
from the rapidly expanding number of Chinese producers
and consumers. ...Gold use in jewelery in China jumped
24% from a year earlier to 221 tonnes in the first nine
months of 2007, overtaking the US to make China the
second largest gold consumer after India, according to
the World Gold Council. ... The Shanghai exchange, one
of the country's three commodities futures exchanges,
has already set the size of its gold futures contracts
at 1,000 grams per lot and established a 5 percent limit
on daily price movements as well as a minimum margin
requirement of 7 percent of the gold contract value."
December 11, 2007: The following from Business Week,
December 17 -- Exchange traded funds, like the $15
billion Streettracks Gold Shares Trust, are the new kids
on the block. Gold-oriented mutual funds have been
around for years, but they mainly buy mining stocks. The
new ETFs, rolled out over the past three years, buy
actual bars of gold and store them in warehouses. By
holding gold directly, the funds affect the price
because they remove supply. The Streettracks fund, run
by State Street Corp, in Boston, owns 609 tons of gold
held in the London vault.
In the third quarter, ETFs bought 138 tons of gold, or
15% of all the gold produced and six times more than
they bought in 2006's third quarter. Because much of the
demand for the ETFs has come from long-term investors,
the funds are rarely sellers. "I call them vacuum
accounts because the gold goes in and just stays there,"
say James Vail, manager of the INF Global Natural
Resources Fund.
November 27, 2007: Compliments of The Prudent Bear...
Regulatory Debauchery a featured commentary by
Satyajit Das
Must Read
November 26 2007: Monty Guild's Global Market
Commentary...
HOW WE GOT HERE AND WHERE WE ARE HEADED
November 25,
2007: Thanks to S. Chiew...
Dr. Darryl Robert Schoon on August 21, 2007.
Towards the end of the broadcast he recounts a story of
Peter G. Peterson saying a year ago that he expected a
depression in the USA 2 to 5 years from then; that is to
say, a year to 4 years from now.
November 23, 2007: Derivatives outstanding now
estimated to be about $516 trillion.
Sooner or later we are going to be talking about real
money...
Warren Buffett (circa 2003) warns on investment 'time
bomb'...Derivatives are financial weapons of mass
destruction
November 23, 2007:
Please click on Subprime; below. This should make your
day.
This is a classic!
The Long Johns - The Last Laugh - George Parr -
Subprime November 23, 2007:
Its Credit and its Crunchy... more from George Parr
Another classic!
November 16, 2007: Compliments of Pollitt & Co. Inc.
My old friend Murray Pollitt's superb
November 2007 Letter.
Murray has been writing this
succinct
monthly missile for about forty years and it only
gets better.
November 17, 2007: Compliments of The Globe and Mail...
Anatomy of a panic
by BOYD ERMAN, JACQUIE MCNISH, TARA PERKINS AND HEATHER
SCOFFIELD
November 8, 2007: compliments of DOW JONES NEWSWIRES...
ETF's and Gold by Allen Sykora
November 7, 2007:
It's
time to repeat the words of W.D. Gann. Mr. Gann is
considered by many professionals to have been one of the
greatest commodity and stock traders (and thinkers) of
all time. Compliments of Richard Russell
"When a stock or a commodity advances into new territory
or to prices which it has not reached for months or
years, it shows that the force or driving power is
working in that direction. It is the same principle as
any other force which has been restrained and breaks
out. Water may be held back by a dam, but if it breaks
through the dam, you would know that it would continue
downward until it reaches another dam, or some
obstruction or resistance which would stop it.
"Therefore, it is very important to watch old levels of
stocks and commodities. The longer the time that elapses
between the breaking into new territory, the greater the
move you can expect, because the accumulative energy
over a long period naturally will produce larger
movements than if it only accumulated during a short
period of time."
November 6, 2007:
A wave
of foreclosures and evictions is about to sweep the
United States in the wake of the sub-prime mortgage
lending crisis by Steve Schifferes BBC economics
reporter, Cleveland, Ohio
November 2, 2007: CNBC's
interview on Friday November 2, 2007 with Matt Simmons
(author of Twilight In the Desert)
September
24, 2007: Apologies! I have been away at the Pengrowth
Fall Investment Conference in Bermuda. I will get back
to updating this website and, by the way, Pengrowth
Income Trust ( PGF.UN TSX) represents very good value.
September 13th 2007: Compliments of the
Economist...Commercial paper
Unscrambling the eggs...Lessons from Canada suggest
it is important to buy time-
September 2007:
Keep It Simple ...MARKETS AT A GLANCE by Eric Sprott
and Sasha Solunac
September 12 2007: Compliments of Fortune
Magazine...
Is Canada for sale?
Many of Canada's best-known companies have been bought
by foreigners. Even easygoing Canadians are wondering
what can be done about it. by Erik Heinrich
September 12, 2007: Compliments of the Wall Street
Journal...
A
Secret Time Bomb Made of Gold
GETTING TECHNICAL by MICHAEL KAHN
September 10, 2007: (Bloomberg) -- Treasury
investors basking in the biggest rally in four years
have reason to fear for their profits: The largest
owners of U.S. government debt are heading for the exit.
Two-year Treasuries returned 1.09 percent in August, the
best monthly performance since 2003, according to
indexes compiled by Merrill Lynch & Co. At the same
time, holdings of U.S. bonds by governments and central
banks at the Federal Reserve fell 3.8 percent, the
steepest decline since 1992.
The dollar's slump to a 15-year low against six of its
most actively traded peers is turning the gains into
losses for international bondholders, prompting China,
Japan and Taiwan to sell. Overseas investors own more
than half of the $4.4 trillion in marketable U.S.
government debt outstanding, up from a third in 2001,
according to data compiled by the Treasury Department.
August 14, 2007: Monte Carlo. Aug 14, 2007 --
Long time newsletter writer Harry Schultz issued the
following press release today: “For years, greed has
been the underlying force in markets. Now fear is
replacing it. Once underway, it is an even stronger
force. While central banks try to hose down the markets'
fear-flames with money, it doesn’t change the liquidity
problem. Lenders fear to lend & borrowers fear to
borrow. Money "in the system' is of no real help.
Someone has to borrow it. Who will? We’re back to being
unable to push a string. We’re into the very early
beginnings of the unwinding of the derivatives
hurricane, long forecast by Jim Sinclair and myself.”
August 2, 2007:
The
Mortgage Pig in the Python By John Mauldin
Inflation is Baked into the CPI Numbers - The Mortgage
Pig in the Python - Housing Starts Look to Stop
A Few Thoughts on the Recent Credit Crisis - Half of All
Hedge Funds Gone? - Golf, Weddings, and Europe
August 2, 2007: For Jeremy Grantham's Quarterly Letter,
please visit and register at
GMO.com
May 18,2007
Thanks
to our good friend Dr. Michael Berry for his excellentMorning Notes
April 12, 2007: Compliments of CNNMoney.com...Shiller:
Mr. Worst-case scenarioby Jason
Zweig
April 10, 2007:
Melkior
Resources Inc... an update on Melkior's partnership with
Ron Netolitzky's Santoy Resources Ltd. and the Spring drilling program
for Uranium in the Otish area in Quebec...
CFRA's Markets Commentator, John
Budden, in conversation with Jens Hansen President of
Melkior
Resources Inc.
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