Blog

October 16, 2000 – Most everyone assumes that a crash in the stock market is the Federal Reserve’s worst nightmare. There are many sound reasons to reach this conclusion, including the following: 1) The stock market has played a central role in the so-called ‘new economy’ that supposedly has boosted productivity and wealth creation withoutRead more

September 25, 2000 – In recent weeks I have received a number of inquiries from readers on a variety of subjects. I also have some comments on a couple of market related matters. I thought the following to be particularly important, so I would like to share my observations and comments on these topics withRead more

September 11, 2000 – Readers will recall that one year ago I took a very strong view that the Gold market was about to experience a sharp short covering rally. I began discussing this point of view in August 1999, and wrote about the major short squeeze engineered in 1869 by Jim Fisk and JayRead more

August 28, 2000 – It’s time to update my forecast for the precious metals. Readers know that when Gold broke below $300 in February of this year, I took a somewhat lukewarm approach to the metals for a short-term outlook. My initial forecast expressed in Letter No. 259 (February 21, 2000) was: “The big moveRead more

August 7, 2000 – Every once in a while a bubble is created in a market. Bubbles can occur in any market, whether stocks, commodities, real estate or whatever. As an example of a bubble’s capacity to strike anywhere, even old baseball cards – considered by some to be a worthwhile collectible – experienced aRead more

July 24, 2000 – Is Gold money? Or is it jewelry? The answer to these questions about the essential nature of Gold is of fundamental importance to everyone who has an interest in Gold. It is the nature of a product, good or service that determines its usefulness. The more useful it is, then theRead more

July 17, 2000 – “The price has to stop falling before it can begin rising.” These words of advice were offered to me by a good family friend back in early 1974. Not only was he describing some specific stocks, but he was also talking about the stock market in general, which was taking anRead more

June 26, 2000 – Energy Secretary Bill Richardson has been screaming about high oil prices. Al Gore and countless other Democrats have been harping about price gouging by the oil companies, particularly in Illinois and neighboring states where gasoline is selling for around $2.25 per gallon. Even Texas Governor George Bush has gotten into theRead more

June 5, 2000 – A couple of weeks ago when the Dow Industrials were threatening to break below 10,000 and the NASDAQ looked ready to collapse through 3000, the stock market’s traditional summer rally seemed an impossible dream. What a difference a week can make. The perennial bulls are once again singing like larks onRead more

May 15, 2000 – In recent letters I have been purposefully directing everyone’s attention to the Commodity Research Bureau Index. Though the components of this index were changed a few years ago, weighting it more heavily toward energy and less so toward agriculture, the CRB Index is still a very useful measure and important indicatorRead more