Writing Conspiracy Premiums (TYL)

  In last week’s letter we issued our annual investor challenge, seeking one of you to take the honor of prognosticator of the year. But as it turns out, we’ve got a tie between tens of thousands of you for procrastinator of the year!   C’mon, folks! Get off your bee-hinds; we want to know how you see the year ending. And we’re offering prizes, too. A bucket of mortar and a jug of WD-40 for third place, a cracked Top Flite golfball once shot by the Walrus, Craig Stadler, that we found in a pond at the Masters in Augusta in 1983 (dad took us for a family trip that year; it was the…

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Investing in Paramilitary Software (TYL)

With the most recent riots in Baltimore and ongoing tensions in Ferguson and elsewhere, we feel it timely to return to one of the themes we’ve been discussing here for the past several years, and that’s the notion of civil breakdown and all it entails for good folks like you. But before we do, there are others who’ve opined on the issue from a moral standpoint far better than we ever could, and we want to refer them to you before we get on with the general financial and survival issues pertinent to the theme. Police Aggression? The first is blogger Chris Martenson, who normally writes on an array of issues – mostly market- and…

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Against the Grain – Shorting Rules for Individual Investors (TYL)

Short sellers are a rare breed. And during a bull market, those who make a living from the short side are an even rarer commodity. A Rising Tide Lifts all Boats Fighting the overall trend is a mug’s game if you’re an amateur. The general swell of a bull market means even unworthy stocks will move higher with the crowd and that’s a certain death for the ham and egger who believes he can pull off a quick score with a short sale. The best shorts are, rather, those who have forensic accounting abilities and industry connections. The ability to navigate the guts of a quarterly report is a tremendous advantage, but knowing what’s happening…

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