Investor CAFÉ Newsletters
The Greatest Pro-Investor Breakthrough in Wall Street History
“Most people are beaten up by the market instead of beating the market.” — Mark T. Hebner (“Maxims of Wall Street,” p. 194) What event signifies the greatest breakthrough in Wall Street history? It could be: A.) The creation of the Dow Jones Industrial Average in 1884. B.) The invention of mutual funds in the 1920s. C.) […]
Is the World’s Richest Man a Libertarian?
During this holiday season, we have something to cheer about. Move over, Charles Koch! It looks like Elon Musk, the CEO of Tesla and SpaceX and the world’s richest man, is a libertarian, with a small “l”. In a couple of interviews — with The Wall Street Journal and then with the Babylon Bee, a popular Christian conservative alternative to […]
Why I Tore Up Paul Samuelson’s Famous Textbook
Special Announcement about the Economy and the Stock Market: Before getting into today’s Skousen CAFÉ, the federal government released gross output (GO) — the measure of total spending in the economy — for the third quarter. Real GO rose 4% (after inflation), suggesting a slowdown in the economy, compared to the second quarter. However, real […]
Who’s Winning the Battle of Ideas, Milton Friedman or Paul Samuelson?
“As all history informs us, there has been in every state and kingdom a constant warfare between the governing and the governed; the one striving to obtain more for its support, and the other to pay less.” — Benjamin Franklin (1787) How many of you have kept in touch with your favorite teachers from high […]
Is the United States Becoming a Banana Republic?
“When you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you — when you see corruption being rewarded and honesty becoming a self-sacrifice — you may know that your society is doomed.” — Francisco d’Aconia “Money Speech” from “Atlas […]
Check Out This Amazing Graph!
“The thing you should keep your eye on is what government spends, because that’s the true tax.” — Milton Friedman Remember when President Bill Clinton said, “The era of big government is over” in the 1996 State of Union Address? It was a shocking statement, but I was skeptical when he said it. That was the […]
The #1 Question I am Asked on Thanksgiving Day
“A bull market is one that can shake off even bad news.” — Don Gimpel (“Maxims of Wall Street,” p. 107) Thanksgiving is my favorite holiday. It is a time to relax, play a little football with family and friends, enjoy a sumptuous Turkey dinner and not worry about gift-giving. It is also a time […]
The New Bull Market in Gold – What is It Predicting?
“The impact of the rate of inflation on the price of gold is like tracking the footprints of an animal.” — Julian M. Snyder “You’ve endured the pain, why not enjoy the gain?” — Rick Rule After two decades of raging inflation, the Federal Reserve under Paul Volcker took on the task of ending this threat to our […]
What is the Greatest Threat to Your Investment Today? No, It’s Not the Government!
“Nobody is more bearish than a sold-out bull.” — Old Wall Street saying “I hate to be wrong. But I hate more to stay wrong.” — Paul Samuelson I appeared last week on the Tom Woods Show to talk about something that has me deeply concerned. It is what academics call “loss aversion” — the fear of losing […]
Next Stop Dow 100,000? Who Will be the Next President of the United States?
“Forecast a number a number or a date, but not both.” — The Maxims of Wall Street In 1999, two economists, James Glassman and Kevin Hassett, published a book with the outlandish title, “Dow 36,000.” At the time, the Dow Jones Industrial Average hit a record 10,000. For investors, Dow 10,000 was a milestone, a culmination of a […]
