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March 17, 2011

WOW!


North Africa is smoldering, Japan just got soaked by a tidal wave and a radioactive debris cloud may or may not suddenly appear. The PIIGS continue their slow financial collapse and QE II will end in a few months. The world we live in is a crazy place. On Sunday night, I watched in awe as the Japanese stock market lost nearly 10% in ... Read More
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March 12, 2011

Coup d’Etat


Coup d’Etat: A Practical Handbook by Edward Luttwak is one of those great books that you can read repeatedly and learn something new each time. Clearly, I’m not in the business of staging a coup against anything. Rather, I appreciate the intellectual purity of contemplating such an abstract concept. The permutations and divergent courses you can take in your ambition only add to the complexity ... Read More
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February 26, 2011

Ignore The Jewelry Hoax….


Ever since I started buying gold in 2003, people have been concocting stories about why it’s a bad investment and why every pullback is indicative of the top. None of these stories has had much merit, but they all need to at least be explored. The latest thesis goes something like this: gold is a bubble driven by investment demand. Jewelry demand is in ... Read More
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January 30, 2011

Bernanke–Two Uprisings And Counting….


Like most investors, I spent the weekend watching television trying to make sense of events in Egypt. First I tried American news networks, but quickly tired of them. Anyone care that a guy swallowed a quarter? Will Charlie Sheen survive rehab? If you want to know what’s going on anywhere in the Middle East, you tune into Al Jazeera’s English webcast. I watched slightly ... Read More
Categories: Comments On Events
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January 3, 2011

Commodities Gone Wild


What happens when a commodity goes up in price? They produce more of it. What happens when it goes up way beyond the cost of production?They produce a even more of it. What then happens to the price? There will be a whole lot of disappointed longs. As I went through my commodity charts this weekend, I was surprised at just how strong these ... Read More
Categories: Comments On Events
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December 20, 2010

Gold Rush Reality


This summer, I found myself in the small town of Ross, where the largest gold nugget in New Zealand was discovered.  I went to the famous stream where it was found, felt a stroke of good luck and rented a pan and shovel. Almost immediately, I saw little flakes of gold. I couldn’t believe my luck. Within 20 minutes, I found a little clunker ... Read More
Categories: Comments On Events
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December 17, 2010

Ben-In-A-Box


What if you tried to corner a market, but no one believed you?  What if they didn’t think you had the competence to pull it off? Or the gumption? What if they didn’t think you had the capital to actually do it? What if you talked a big game, but then came up short? That sure would be a disaster for anyone who had ... Read More
Categories: Comments On Events
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December 9, 2010

What’s The Difference Between Iceland And Ireland?


Two weeks ago, as the fate of Europe hung in the balance; I got a witty email from a friend. “What’s the difference between Ireland and Iceland?” The answer: “Two years and a letter” “LOL, ROFL …!” I responded. In case it isn’t clear, two years ago Iceland collapsed and ironically, there is only a single letter of difference in their names. Then I ... Read More
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November 28, 2010

High Cotton…


A funny thing happened while I was in Asia—cotton made new all time highs. I’m a big believer in watching what assets are at new highs as new highs always tell you an interesting story. What sectors are booming? What’s popular as an investment? What associated industries should be doing well, or hurting? You always have to ask yourself those questions.  All time highs ... Read More
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