Outside the Box

The Debate Over Renminbi Policy

January 27, 2016

Longtime readers know how much I respect and rely on the Gavekal group for thought-provoking research. They have a truly unique organization, one in which even junior analysts can question conventional wisdom and ask uncomfortable questions. Moreover, they aren’t afraid to let the world (or at least their clients) see their disagreements.

Today I have a recent piece in which Louis Gave jumps into the team’s debate over renminbi policy. In true Gavekal style, he openly questions what others in the firm think about China’s currency. I won’t steal any of his thunder but just encourage you to read this piece carefully. It covers a great deal of very important ground.

Louis will have much more to say about China when he speaks at my Strategic Investment Conference in Dallas this coming May 24-27. We’ll also have Gavekal’s other two principals, Charles Gave and Anatole Kaletsky. They rarely all appear in the same place at the same time, so having the three of them together will be a special treat. I’m really looking forward to the good-natured arguments that will no doubt erupt among them. I always learn from their debates.

Speaking of SIC, our early registration period ends this Sunday, Jan. 31, and with it the chance to save $500 off the walkup rate. We’ll soon start promoting the conference more widely, so if you want to get in, you should act quickly. I wish I could tell you about some of the additional speakers we are very close to getting, but until the paperwork is finished you can’t talk about it. You are really going to want to be at this conference. It will be the event of the year. You can find more information and register at the SIC 2016 website.

I am still at the ETF.com conference in Hollywood, Florida (which is close to Fort Lauderdale). We are staying one more day to have dinner with friends and were thinking that a little beach-time reading would be good. But so much for sunny Florida – this morning saw tornadoes and rain and lots of wind. I could’ve gone back to Texas for that. In theory, I will get to have dinner with my good friend Suze Orman – if her plane doesn’t get stuck on the island where she is because of winds there. I really hope she can hop on over here, because she is just tons of fun to be with.

One of the good things about being at a very large conference like this is that many of the speakers and attendees are friends, so there is a lot of catching up, sharing of notes, and learning opportunities. I fully intend to be in bed by the time you get this issue of OTB, as an early night after the last three really does seem to be the better part of wisdom. You have a great week.

Your finally attacking his inbox analyst,

John Mauldin, Editor
Outside the Box

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The Debate Over Renminbi Policy

Louis Gave
January 21, 2016

One of the core tenets of Gavekal’s philosophy is that we embrace open debate. Rather than concealing the diversity of our analysis beneath a single suffocating “house view”, we strongly believe that conducting our —often animated—discussions about the big topics of the day out in the open adds value for our readers. And few of our recent debates have been as lively…

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