Outside the Box, April 2006


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The Dash to Trash

April 24, 2006

Today we deal with trash. This week's piece is not only regarding the problems with "trash investments" itself but investors' dash towards it! My good friend and fellow writer, James Montier, takes a long look at the market and probes it in search of value. In his article, James walks us through the valuation of different equity classes and the investor sentiment currently surrounding them.

For those who are unacquainted with Mr. Montier, he serves as the Director of Global Strategy at Dresdner...

Quarterly Review and Outlook - First Quarter 2006

April 17, 2006

Bonds will be our subject for today. But this is not your ordinary outlook for bonds. Despite the current consensus amongst the street, HMIC's Van Hoisington and Dr. Lacy Hunt have chosen to take a contrarian's approach to the future of the bond market, because of their concerns for the US economy, which they present in detail.

Hoisington Investment Management Company focuses on long-term investment strategies based on Economic Analysis. The firm is a registered investment advisor specializing...

Seasons of Gold

April 10, 2006

Today we look at gold. I made my first dollar on gold stocks back in the mid-1980s when Doug Casey personally called me up and told me to by a particular stock. It was quite a home run and I have paid attention to what Doug says on gold stocks ever since. Lately he has been on a roll in his newsletter as well. 32 of the last 35 stocks he has recommended are up as of the latest issue.

I am pleased to be able to send you the introduction from Doug's recent edition of International Speculator....

*@?#»! Bond Trading and the Tyranny of Indexation

April 3, 2006

I religiously read Bill Gross of PIMCO. I particularly enjoyed this month's piece. Gross is talking to his clients about the problems of bond investing. Given that he sits on top of the biggest pile of bonds in the world, I find it always useful to pay attention to him. This month he discusses the problem of valuation, risk and indexing. He comes to some novel conclusions. Let me quote one line deep into the piece:

"What I'm suggesting is essentially this: to be successful in the...