September 27, 2015

Here Comes The Blood!!


Starting at the end of 2014, I wrote a number of pieces (There Will Be Blood!!, There Will Be Blood!! (Part II), There Will Be Blood!! (Part III), There Will Be Blood!! (Part III.V)) detailing how QE was facilitating the production of certain real assets like oil where the production decision was no longer being tied to profitability. For instance, shale producers could borrow cheaply, produce at Read More
Categories: Comments On Events
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September 7, 2015

No Such Thing As Yuan Time…


It’s now been about 10 months since I last wrote about the Chinese Renminbi (CNY). At the time, I was bearish and expecting a decline in the CNY (which has since happened). White vertical line is the first article date Now here’s the thing about devaluations; when the structural forces say that a controlled currency should devalue—it usually does. It’s rare to see a “one Read More
Categories: Investments
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September 3, 2015

Colombia Not Columbia…


So, I was sitting in the Plaza De Los Coches in Cartagena, Colombia. It was past midnight, but still 95 degrees with an asphyxiating humidity that I have yet to experience in Miami. Fortunately, I had a cold beer in hand and was surrounded by good friends. In any case, I was transfixed by the parade of drunken tourists, prostitutes and the awkwardly comical Read More
Categories: Travels
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July 12, 2015

Colombia


As many of you know, I live in Miami—what you probably don’t know, is that without the cocaine trade, Miami would still be a backwater like Fort Meyers—good weather, some interesting architecture, but not much modern development. Instead, Miami is the capital of Latin America. It got to that pinnacle through the activities of a motley band of Colombians—none more famous than Pablo Escobar. Read More
Categories: Travels
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June 4, 2015

Lionfish


Many years ago, when I still invested in mining companies, I visited a promising exploration target in South America. As we drove up a river valley towards the deposit, we entered a lunar landscape where nothing grew. The valley walls were denuded of vegetation and the river ran orange from acid mine drainage. As we travelled the next 10 or so miles, the earth Read More
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