- July 4, 2025
At The Crossroads
Happy Fourth of July! I hope you’re enjoying a long holiday weekend. That’s what I am doing, so this letter will be a little different.
Read moreThoughts from the Frontline: Tag = "john mauldin newsletter"
- June 27, 2025
The Great Slowdown
Economic news is increasingly hard to follow these days, mainly because it changes so fast and it gives so many mixed signals. Less than three months ago, we were all in shock from President Trump’s “Liberation Day” tariff announcement. While he paused the worst parts of that plan, US import taxes are still at their highest point in decades. Yet now the headlines are more about oil and geopolitics. It turns out that most of the news is just noise. The markets aren’t significantly different from...
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- June 20, 2025
Strategic Investment Conclusions
Today we’ll talk again about the SIC—not the Strategic Investment Conference, but the Strategic Investment Conclusions it helped us reach. This is not a recap of the conference. It’s my reflection on some things I think we should practice in our lives and our investment portfolio management. The “strategic” part means we don’t seek information for its own sake. We seek information because it should influence our actions.
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- June 13, 2025
The Investment Signal in the Noise
One cannot overstate the importance of Claude Shannon and his 1940s work on information theory at Bell Labs. It was foundational to modern telecommunications and electronics. We’ve seen constant improvement in our ability to communicate because we can separate the important information from the noise.
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- June 6, 2025
Good News and Creative Destruction
“We desperately as a country want to destroy more jobs. That is the only good outcome in the next 10 years…”
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- May 30, 2025
Bullish Highlights
I call our annual event the Strategic Investment Conference for a reason. Understanding the macro trends is only the first step. We all have to apply that knowledge in our own portfolios so we can tolerate short-term fluctuations and achieve our bigger goals.
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- May 23, 2025
Inflation Standoff
The Strategic Investment Conference is over. I’m now in my annual recovery period, during which I try to absorb the informational firehose I (with thousands of others) just experienced.
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- May 16, 2025
How We Got Here
We are in the middle of the Strategic Investment Conference, a fabulous gathering of some of the best economic, political, and geopolitical minds anywhere. I’m really proud of what we’re doing. And at the last minute, we’ve added Dr. Mehmet Oz, nationally regarded cardiovascular surgeon, author of numerous best-selling books with my friend Dr. Mike Roizen, and now head of the Centers for Medicare and Medicaid Services. He will be joined by Dr. Robert Redfield, former CDC director, virologist,...
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- May 9, 2025
Tension in the Sandpile
I’ve been writing about tariffs for a couple of months now, focusing mostly on the macroeconomic harm and the costs they impose on small businesses. Today I want to consider something else: the new risks they are adding to the financial system alongside the old risks. We had a small taste of it when markets convulsed in early April. That episode passed, but I don’t think the risk is gone. Different and potentially worse may be coming, as the disruptions compound.
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- May 2, 2025
Soft Data Gets Softer
Economic data can be soft or hard. “Soft” data reflects attitudes, expectations, opinions, and feelings. It’s a step removed from the “hard” data reflecting actual events. Soft data is still valuable because future expectations shape the hard data that follows.
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