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September 19, 2012

$40 Billion A Month Won’t Fix The Economy….


$40 billion a month? That’s their big plan? I came in from my canoe trip to watch this? Anyone with a rudimentary understanding of how an economy actually works will realize that our economy does not suffer from a lack of liquidity. In fact, there is too much of it. The banks have so much excess cash, they don’t know what to do with ... Read More
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May 6, 2012

Does Real Estate Equal A Bond Short?


A few weeks ago, I was having a chat with a commercial real estate broker here in Miami. We were both baffled by the stratospheric rise in trophy properties in Miami, so he gave a quick example. A wealthy client wanted to get a property “priced out.” This meant that he wanted to have a bidding contest to see where others thought the price ... Read More
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March 30, 2012

John Paulson Has A Problem…


John Paulson has a problem—his own investors. As long as it’s his problem, it could be a problem for all of us as well. Let me note that I have never met Paulson, but I certainly admire his skill at navigating the markets in 2008 and before then. Unfortunately, in 2009 and 2010, lots of other investors also admired his skills. His funds ballooned ... Read More
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March 18, 2012

Miami Property Bottoms…


I have lived in Miami Beach, Florida for 8 years. To say that the real estate market here has been a roller-coaster is to understate the obvious. Whatever has happened in the rest of the US, it has happened here first and with a much greater magnitude. My own travails renting living spaces in 4 different locations neatly mirror this market. I never set ... Read More
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December 12, 2011

My Soap Box… (Sorry For Politics)


I want to apologize in advance for stepping onto my soap-box here. Over the past few years, our government has invaded the private sector in such a way that the two are hard to differentiate and suddenly talking about investing means talking about politics. I hate talking about politicians without mentioning a way to profit from their idiocy, but I feel that readers should ... Read More
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November 27, 2011

It’s About To Blow!!!


Lately, I’ve been less focused on the global markets because I’m so focused on Mongolia. However, it’s hard to ignore what’s going on in Europe as it affects all of us. Let me put it bluntly, they have about a week to figure this out, or they’re going back into the Dark Ages. They really have three choices; let the banks fail and destroy ... Read More
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October 10, 2011

No Hurry To Buy If There Is No Growth…


When you look around the US markets, arguably one of the cheapest large-cap stocks out there is Best Buy. Just a quick view of the figures will prove the point. It trades at 7 times forward earnings,5 times forward cash flow, has a rock solid balance sheet and high returns on capital–even at cyclically reduced earnings. The story gets even better when you realize ... Read More
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September 26, 2011

Inhuman Volatility…


I’m sitting here in Toronto simply in awe of the markets. When I packed up my computers in Ulaanbaatar before the open on Friday, gold was 1750 and silver was 36.5. Now a trading session later, gold is 1540 and silver is struggling to stay over 27. The age of inhuman volatility (as named by 13-D research), is now upon us. With a few ... Read More
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August 10, 2011

Clue Jr.–Finance Edition


When I was a kid, we used to play Clue Jr. It’s the game where you have to guess who committed the crime where and with what weapon. Then, when I grew up, I started to play Clue Jr—Finance Edition. That’s the game where you try to figure out who left footprints all over the market as they rapidly tried to unwind some product. ... Read More
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