When the Rules of the Investment Game change most Investors continue to Play by the old Rules
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Latest Monthly Market Commentary Reports
Another Pillar of the Financial Mania that is Shaking
Starting with the July report entitled The Greatest Global Investment Mania in modern History and the August report discussing Characteristics of the first Phase of the Piercing of the greatest global Investment Mania, I turned increasingly bearish about stock prices. Among the prime characteristics of an investment mania, I however, omitted one…
Marc Faber
How Socialism Empowers the Wealthy and not the Commoner
A particular economist whose essays I read frequently is Daniel Lacalle (www.dlacalle.com), who occasionally also writes for the Mises Institute (www.mises.org). In an essay published on August 15, 2026, he explains why Americans are falling into the socialist trap by blaming capitalism for the damages of statism. Lacalle writes: “Americans are…
Characteristics of the first Phase of the Piercing of the greatest global investment Mania
A well-informed and intelligent reader of this report who also happens to dislike China to make an understatement, recently sent me some comments following my friend Kevin Duffy’s friendly words about China’s technological progress in last month’s report. The said reader noted that, “While Latin America and other areas are interesting in the…
The Greatest Global Investment Mania in modern History
BofA just published a chart about the concentration of companies in historic investment manias beginning with the railroad mania of the late 19th century. Usually, when the bubble theme reaches a heavy concentration (around 40% of the stock market capitalization) a collapse follows. As I have argued in the past, the rules of the game are changing…
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