Thoughts from the Frontline

Kicks Just Keep Getting Harder to Find

By John Mauldin

May 20, 2005

Pension Plan Problems
Kicks Just Keep Getting Harder to Find
A Financial Services Bubble?
Exactly What is China Manipulating?
Chicago, Mavericks and Napa Valley Restaurants

"It seems like kicks just keep getting harder to find,
All your kicks ain't bringing you peace of mind,
Before you find out it's too late,
You'd better get straight," - The Monkees

Substitute the word "returns" for "kicks" in the classic Monkees hit and you get an updated boomer generation anthem. (Or maybe Peter, Paul and Mary singing "Where have all the returns gone? - a long time passing.") This week we look at issues involving pension funds, muse upon the size of the financial service industry (is it a bubble?) and speculate about Chinese currency manipulations. There's a lot of interesting ground to cover.

But before we get into our main topics let me recommend a few books I've had the pleasure to read while traveling over the past few weeks. While I was turned off by the title of the book " Freakonomics," I found the content fascinating. Basically, the author's probe the relationship between cause and effect. Who knew you could compare the Ku Klux Klan and real estate agents? Well-written, thought-provoking, and generally fun,…

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