May 15, 2013 4:00 PM
“It took Zimbabwe twenty-five years to destroy their currency. With Japan’s spirit of innovation, I believe that we can destroy ours in less than five years!!”
Mind you, I don’t speak Japanese, but last month, as I watched some remarks from the new head of the Japanese Central Bank, and I could have sworn that I actually understood Japanese for a brief moment. Then, I waited a few seconds and the speaking points passed over my Bloomberg. You know what? I might as well speak Japanese, becaus... more
May 7, 2013 9:32 AM
I’m in Las Vegas for the Value Investor’s Congress where I am presenting today (wish me luck). After a few dozen trips to Vegas over the years, I have to admit that the bright lights, gaudy furnishings and generalized circus atmosphere leave me somewhat numb. Vegas just isn’t “my sort of place.” That doesn’t mean that I cannot be stimulated in other ways. It all starts with the question that I ask myself every time I come here—what is the marginal return on capital of the lake at the Bellagi... more
April 29, 2013 11:59 AM
As many of you know, I now live in Mongolia and am focused on building Mongolia Growth Group Ltd. (YAK:Canada or MNGGF:USA). As it is a public company, I have always felt that this website was not the appropriate venue to discuss the company.
I will host a corporate update presentation and reception for shareholders and interested investors on May 9, 2013 at New York's Hotel Pennsylvania, from 5:30-7:30PM. If you would like to attend this presentation, please contact Genevieve Walkden at in... more
March 27, 2013 10:53 AM
In the history of bank bailouts, the government always has some inspiring social message to justify spending taxpayer money. Usually, it’s in the name of stability; we’ve made the system stronger, we’ve rescued depositors, we’ve inspired confidence. Even the mundane; we simply had no choice, sometimes is sufficient. After reading dozens speeches and articles on the subject, the ECB’s mantra on the Cyprus bailout seems to be; we got some Russian tax cheats. In addition, a few key Euro Zone po... more
March 19, 2013 12:23 PM
Over the last two days, I’ve pondered the extreme stupidity of the European Central Bankers. I know that I wrote about them on Sunday, but I simply cannot get over how their actions have forever changed the face of the banking system. In the past, scared depositors did nothing. They were stupid enough to trust their governments. They never will again. Going forward, a small piece of bad news can set off a stampede. All hope for governments to stabilize a problem are squandered. European bank... more
