March 16, 2012 - Quote of the Day
?What the wise man does in the beginning the fool does in the end,? said oracle of Omaha, Warren Buffett.
Entries by DougD
Is the Fat Lady Singing for the Treasury Bond Market?
With global quantitative easing now getting long in the tooth, I think the party is about to end for the Treasury bond market. For the last four months, this market has been stuck in a tedious, narrow range, with ten year paper stuck between a 1.90% - 2.10% yield. Trading bonds has been as exciting
The Structural Bear Case for Treasury Bonds
If you want to delve into the case against the long term future of US Treasury bonds in all their darkness, take a look at Foreign Affairs, the establishment bimonthly journal read by academics, intelligence agencies, and politicians alike, which I am sure you all have sitting on your nightstands. In a well-researched and thought
March 15, 2012 - Quote of the Day
?At these prices, bonds should have warning labels on them,? said Doug Kass of Seabreeze Partners.
Updated 2012 Strategy Luncheon Schedule
Due to overwhelming demand, I have improved and expanded my 2012 schedule of strategy luncheons. The Phoenix lunch got moved to Scottsdale to access a more stylish hotel. The French said they would start mailing me frog legs if I didn?t come to France, so my European Tour now includes a Paris lunch. The Swiss
US Headed Towards Energy Independence
My inbox was clogged with responses to my ?Golden Age? for the 2020?s piece yesterday, particularly my forecast that the US was moving towards complete energy independence. This will be the most important change to the global economy for the next 20 years. So I shall go into more depth. The energy research house, Raymond
The Chinese Yuan Takes a Hit
Long time readers of this letter are well aware of my advice to hold cash in the Chinese Yuan ETF (CYB) for the past four years. Those who followed my advice profited nicely. The Yuan to you and me is known domestically in China as the ?renminbi?, or people?s currency. China has a quasi-fixed exchange
March 14, 2012 - Quote of the Day
?I don?t pay any attention to the GDP forecasts of economists?, said Oracle of Omaha Warren Buffet,
Get Ready for the Next Golden Age
I believe that the global economy is setting up for a new golden age reminiscent of the one the United States enjoyed during the 1950?s, and which I still remember fondly. This is not some pie in the sky prediction. It simply assumes a continuation of existing trends in demographics, technology, and economics. The implications
March 13, 2012 - Quote of the Day
?We got competing against cheap labor. What we didn?t get is competing against cheap genius, and that?s what we are doing now with china and India,? said Tom Friedman in his newest book, ?That Used to Be Us.?