Tuesday, August 31, 2010
Jim Rogers: Investors Must Own Real Assets
Mr. Bernanke has never been right about anything,” comments Rogers. He notes that Fed chairman Bernanke doesn’t understand economics, finance, or currencies and is merely pushing the problem to the future by printing more money.
Rogers says that central banks are destroying the saving and investing class. “We’re going to have a lot more currency turmoil over the next 2 or 3 years because of the huge imbalances that exist in the world.”
Jim Rogers: Investors Must Own Real Assets
Rogers says that central banks are destroying the saving and investing class. “We’re going to have a lot more currency turmoil over the next 2 or 3 years because of the huge imbalances that exist in the world.”
Jim Rogers: Investors Must Own Real Assets
China's Insatiable Appetite for Gold
Take note, China does not trust the USD, buying Gold.
China's Insatiable Appetite for Gold Oil Price.com
China's Insatiable Appetite for Gold Oil Price.com
Monday, August 30, 2010
Friday, August 27, 2010
Visa restrictions: No visa required
Gotta love being British.
Visa restrictions: No visa required The Economist
Visa restrictions: No visa required The Economist
Thursday, August 26, 2010
Andrw Lahde's Farewell
Andrew Lahde’s infamous “farewell” upon shuttering his hedge fund in October of 2008:
Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say goodbye.
Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, "What I have learned about the hedge fund business is that I hate it." I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.
There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are.
I will no longer manage money for other people or institutions. I have enough of my own wealth to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest. That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck. Appointments back to back, booked solid for the next three months, they look forward to their two week vacation in January during which they will likely be glued to their Blackberries or other such devices. What is the point? They will all be forgotten in fifty years anyway. Steve Balmer, Steven Cohen, and Larry Ellison will all be forgotten. I do not understand the legacy thing. Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life.
So this is it. With all due respect, I am dropping out. Please do not expect any type of reply to emails or voicemails within normal time frames or at all. Andy Springer and his company will be handling the dissolution of the fund. And don't worry about my employees, they were always employed by Mr. Springer's company and only one (who has been well-rewarded) will lose his job.
I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle. I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life -- where I had to compete for spaces in universities and graduate schools, jobs and assets under management -- with those who had all the advantages (rich parents) that I did not. May meritocracy be part of a new form of government, which needs to be established.
On the issue of the U.S. Government, I would like to make a modest proposal. First, I point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reigned in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it. Since Thomas Jefferson and Adam Smith passed, I would argue that there has been a dearth of worthy philosophers in this country, at least ones focused on improving government. Capitalism worked for two hundred years, but times change, and systems become corrupt. George Soros, a man of staggering wealth, has stated that he would like to be remembered as a philosopher. My suggestion is that this great man start and sponsor a forum for great minds to come together to crea te a new system of government that truly represents the common man's interest, while at the same time creating rewards great enough to attract the best and brightest minds to serve in government roles without having to rely on corruption to further their interests or lifestyles. This forum could be similar to the one used to create the operating system, Linux, which competes with Microsoft's near monopoly. I believe there is an answer, but for now the system is clearly broken.
Lastly, while I still have an audience, I would like to bring attention to an alternative food and energy source. You won't see it included in BP's, "Feel good. We are working on sustainable solutions," television commercials, nor is it mentioned in ADM's similar commercials. But hemp has been used for at least 5,000 years for cloth and food, as well as just about everything that is produced from petroleum products. Hemp is not marijuana and vice versa. Hemp is the male plant and it grows like a weed, hence the slang term. The original American flag was made of hemp fiber and our Constitution was printed on paper made of hemp. It was used as recently as World War II by the U.S. Government, and then promptly made illegal after the war was won.
At a time when rhetoric is flying about becoming more self-sufficient in terms of energy, why is it illegal to grow this plant in this country? Ah, the female. The evil female plant -- marijuana. It gets you high, it makes you laugh, it does not produce a hangover. Unlike alcohol, it does not result in bar fights or wife beating. So, why is this innocuous plant illegal? Is it a gateway drug? No, that would be alcohol, which is so heavily advertised in this country. My only conclusion as to why it is illegal, is that Corporate America, which owns Congress, would rather sell you Paxil, Zoloft, Xanax and other additive drugs, than allow you to grow a plant in your home without some of the profits going into their coffers. This policy is ludicrous. It has surely contributed to our dependency on foreign energy sources. Our policies have other countries literally laughing at our stupidity, most notably Canada, as well as several European nations (both Eastern and Western). You wou ld not know this by paying attention to U.S. media sources though, as they tend not to elaborate on who is laughing at the United States this week. Please people, let's stop the rhetoric and start thinking about how we can truly become self-sufficient.
With that I say good-bye and good luck.
All the best,
Andrew Lahde
Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say goodbye.
Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, "What I have learned about the hedge fund business is that I hate it." I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.
There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are.
I will no longer manage money for other people or institutions. I have enough of my own wealth to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest. That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck. Appointments back to back, booked solid for the next three months, they look forward to their two week vacation in January during which they will likely be glued to their Blackberries or other such devices. What is the point? They will all be forgotten in fifty years anyway. Steve Balmer, Steven Cohen, and Larry Ellison will all be forgotten. I do not understand the legacy thing. Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life.
So this is it. With all due respect, I am dropping out. Please do not expect any type of reply to emails or voicemails within normal time frames or at all. Andy Springer and his company will be handling the dissolution of the fund. And don't worry about my employees, they were always employed by Mr. Springer's company and only one (who has been well-rewarded) will lose his job.
I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle. I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life -- where I had to compete for spaces in universities and graduate schools, jobs and assets under management -- with those who had all the advantages (rich parents) that I did not. May meritocracy be part of a new form of government, which needs to be established.
On the issue of the U.S. Government, I would like to make a modest proposal. First, I point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reigned in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it. Since Thomas Jefferson and Adam Smith passed, I would argue that there has been a dearth of worthy philosophers in this country, at least ones focused on improving government. Capitalism worked for two hundred years, but times change, and systems become corrupt. George Soros, a man of staggering wealth, has stated that he would like to be remembered as a philosopher. My suggestion is that this great man start and sponsor a forum for great minds to come together to crea te a new system of government that truly represents the common man's interest, while at the same time creating rewards great enough to attract the best and brightest minds to serve in government roles without having to rely on corruption to further their interests or lifestyles. This forum could be similar to the one used to create the operating system, Linux, which competes with Microsoft's near monopoly. I believe there is an answer, but for now the system is clearly broken.
Lastly, while I still have an audience, I would like to bring attention to an alternative food and energy source. You won't see it included in BP's, "Feel good. We are working on sustainable solutions," television commercials, nor is it mentioned in ADM's similar commercials. But hemp has been used for at least 5,000 years for cloth and food, as well as just about everything that is produced from petroleum products. Hemp is not marijuana and vice versa. Hemp is the male plant and it grows like a weed, hence the slang term. The original American flag was made of hemp fiber and our Constitution was printed on paper made of hemp. It was used as recently as World War II by the U.S. Government, and then promptly made illegal after the war was won.
At a time when rhetoric is flying about becoming more self-sufficient in terms of energy, why is it illegal to grow this plant in this country? Ah, the female. The evil female plant -- marijuana. It gets you high, it makes you laugh, it does not produce a hangover. Unlike alcohol, it does not result in bar fights or wife beating. So, why is this innocuous plant illegal? Is it a gateway drug? No, that would be alcohol, which is so heavily advertised in this country. My only conclusion as to why it is illegal, is that Corporate America, which owns Congress, would rather sell you Paxil, Zoloft, Xanax and other additive drugs, than allow you to grow a plant in your home without some of the profits going into their coffers. This policy is ludicrous. It has surely contributed to our dependency on foreign energy sources. Our policies have other countries literally laughing at our stupidity, most notably Canada, as well as several European nations (both Eastern and Western). You wou ld not know this by paying attention to U.S. media sources though, as they tend not to elaborate on who is laughing at the United States this week. Please people, let's stop the rhetoric and start thinking about how we can truly become self-sufficient.
With that I say good-bye and good luck.
All the best,
Andrew Lahde
Wednesday, August 25, 2010
China Will Force the World Off Oil
Price of oil will be going up.
Geo-Graphics » Blog Archive » China Will Force the World Off Oil
Geo-Graphics » Blog Archive » China Will Force the World Off Oil
Tuesday, August 24, 2010
Bancor: The Name Of The Global Currency That A Shocking IMF Report Is Proposing
Very interesting proposal. Amazing what man will dream up.
Think the Euro has problems, watch this one.
Bancor: The Name Of The Global Currency That A Shocking IMF Report Is Proposing
Think the Euro has problems, watch this one.
Bancor: The Name Of The Global Currency That A Shocking IMF Report Is Proposing
Monday, August 23, 2010
Dr. Keynes Killed the Patient
The link is to an allegory about Dr Hayek and Dr Keynes which discusses the dangers of quackery, whether medical or economic. Right now, economic quackery - in the form of Keynesianism - has overtaken Washington.
RealClearMarkets - Dr. Keynes Killed the Patient
RealClearMarkets - Dr. Keynes Killed the Patient
Sunday, August 22, 2010
Saturday, August 21, 2010
Are Your Ready for the Big One?
Get ready and hang on. Watch what fear will do once it is released.
Are Your Ready for the Big One? — Rick's Picks#more-25527
Are Your Ready for the Big One? — Rick's Picks#more-25527
Monday, August 16, 2010
Friday, August 13, 2010
Ten Reasons to Be Cautious
From the WSJ - 10 reasons to stand aside
ROI: Is a Crash Coming? Ten Reasons to Be Cautious - WSJ.com
ROI: Is a Crash Coming? Ten Reasons to Be Cautious - WSJ.com
Thursday, August 12, 2010
U.S. Is Bankrupt
I disagree...The US is Bankrupt and we know it.
U.S. Is Bankrupt and We Don't Even Know It: Laurence Kotlikoff - Bloomberg
U.S. Is Bankrupt and We Don't Even Know It: Laurence Kotlikoff - Bloomberg
Japan's Debt Safer Than US Debt
China is buying Japan's debt. It is safer than the US debt. I would have to agree. The US has chosen its path. Until it demonstrates that it has changed it ways, we can only assume that it will continue what it has been doing. Printing money. The republic, the empire is on its way out.
China Economist: Japan's Debt Safer Than US Debt
China Economist: Japan's Debt Safer Than US Debt
Gov't horror: Budget disaster "will destroy the country from within"
Gov't horror: Budget disaster "will destroy the country from within"
By Walter Williams, Professor of Economics at George Mason University:
A MINORITY VIEW
By Walter Williams, Professor of Economics at George Mason University:
A MINORITY VIEW
Wednesday, August 11, 2010
America looks like Russia in 1998
Hmmm.....Russia was pretty messed up.
*********
"America today looks like Russia in 1998," Jochen Wermuth, Chief Investment Officer at Wermuth Asset Management, explained to CNBC today. "Consumers, companies and the government are all highly indebted. America as a result is a bankrupt Mickey Mouse economy."
Wermuth went on to remind pundits that "Even before the (Troubled Asset Relief Program) and the expansion of the Fed's balance sheet, total US public and private debt as a percentage of GDP...stood at 290 percent..."
*********
"America today looks like Russia in 1998," Jochen Wermuth, Chief Investment Officer at Wermuth Asset Management, explained to CNBC today. "Consumers, companies and the government are all highly indebted. America as a result is a bankrupt Mickey Mouse economy."
Wermuth went on to remind pundits that "Even before the (Troubled Asset Relief Program) and the expansion of the Fed's balance sheet, total US public and private debt as a percentage of GDP...stood at 290 percent..."
HP's Mark Hurd "Was A Thug"
Sounds like HP's old CEO was a bully .... not a leader. Power corrupts.
Actually, Mark Hurd "Was A Thug"
Actually, Mark Hurd "Was A Thug"
Tuesday, August 10, 2010
Sunday, August 8, 2010
Saturday, August 7, 2010
3 Blue Chip Stocks to Buy
Some good ideas. I think I will take 1 or 2 of them. The upside on the 3rd one is limited and has bit of risk....lawsuits.
T2 Partners Presentation-7!13!10
T2 Partners Presentation-7!13!10
Friday, August 6, 2010
Wednesday, August 4, 2010
Pitfalls of Too Much Information
Really ....that is a very valid point....too much information is not helping.
Investors, Beware the Pitfalls of Too Much Information - Kiplinger
Investors, Beware the Pitfalls of Too Much Information - Kiplinger
Monday, August 2, 2010
Collecting Rainwater Now Illegal in Many States
Not even on your own property....it belongs to the government
Collecting Rainwater Now Illegal in Many States as Big Government Claims Ownership Over Our Water
Collecting Rainwater Now Illegal in Many States as Big Government Claims Ownership Over Our Water
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