What if the Central Bankers have it all wrong? What if low rates are actually the problem, not the solution? We all know and basically accept that low rates thwart the creative, destructive process of capitalism, where inefficient companies go bankrupt and remove competition from the marketplace so that stronger companies can thrive. If you can forever refinance and reduce your interest cost, it’s Read More

Following a number of requests, I have attached my presentation from the Las Vegas Value Investor Congress.             Please remember that I am the Chairman and CEO of Mongolia Growth Group and this is clearly not a recommendation to do anything regarding the shares. Categories: Comments On Events Positions Mentioned: none To receive email updates on new posts, use the subscribe Read More

“It took Zimbabwe twenty-five years to destroy their currency. With Japan’s spirit of innovation, I believe that we can destroy ours in less than five years!!” Mind you, I don’t speak Japanese, but last month, as I watched some remarks from the new head of the Japanese Central Bank, and I could have sworn that I actually understood Japanese for a brief moment. Then, Read More

I’m in Las Vegas for the Value Investor’s Congress where I am presenting today (wish me luck). After a few dozen trips to Vegas over the years, I have to admit that the bright lights, gaudy furnishings and generalized circus atmosphere leave me somewhat numb. Vegas just isn’t “my sort of place.” That doesn’t mean that I cannot be stimulated in other ways. It Read More

Tomorrow morning, the Non-Farm Payroll number will be released. It’s the moment in time where the world’s fastest computer algorithms square off against each other to access the government number first and then launch market orders before someone else’s algo does the same thing. While the fireworks are going off at 08:30:01am, investors will be spending time to understand what the numbers actually mean. Read More

As many of you know, I now live in Mongolia and am focused on building Mongolia Growth Group Ltd. (YAK:Canada or MNGGF:USA). As it is a public company, I have always felt that this website was not the appropriate venue to discuss the company. I will host a corporate update presentation and reception for shareholders and interested investors on May 9, 2013 at New Read More

In the history of bank bailouts, the government always has some inspiring social message to justify spending taxpayer money. Usually, it’s in the name of stability; we’ve made the system stronger, we’ve rescued depositors, we’ve inspired confidence. Even the mundane; we simply had no choice, sometimes is sufficient. After reading dozens speeches and articles on the subject, the ECB’s mantra on the Cyprus bailout Read More

In the slow motion train wreck, which is the gradual disintegration of the Euro, the only thing that never ceases to amaze me, is the determination of the bureaucrats to create perpetual crisis. Despite all of the indecision and lack of cohesion on strategy, nothing like Saturday’s Cypriot bailout had seemed possible. In the end, a continent of socialists seemed unlikely to actually go Read More

With the world drowning in debt, there is rarely a dull year in finance. 2012 will go down in history as the year when a politician, Shinzo Abe, campaigned specifically on the platform of weakening his voter’s currency. I’m not sure if that has ever happened before. Think about this for a second. You own Yen. You can use your Yen to buy all Read More