“His frequent appearances on CNBC draw buzz, as do his wickedly humorous monthly investing columns.”


The Most Anticipated Market Commentary of Our Time

These Outlooks represent life as I saw it, and in many cases, lived it. The monthly preambles about living were what I enjoyed writing the most and were almost always laborious painful inquisitions into our daily lives and in some cases the meaning of life itself.

My best ones, in my opinion, were mentally framed during quiet moments in a shower or after a hard workout at the gym when endorphins open the brain to subconscious thoughts and feelings. They are as much as an autobiography as I could have written, but framed in a monthly series of essays, compiled over four decades that show a maturation or perhaps a molting of my life’s philosophy. They represent who I was, who I am and who I expect to become. I hope that in certain ways, they connect with your own experience.



Back in 2013 I wrote a rather prescient Investment Outlook entitled “Credit Supernova”. It characterized the U.S. and developed global economies economy as “credit based”, especially since 1971 when Nixon broke the gold standard and central banks and private lending institutions were free to expand credit without a firm foundation of gold. Economist Hyman Minsky around the same time created a model which nearly 40 years later led to what became famously known, thanks to Paul McCulley, as a “Minsky moment”. That “moment” was the cause of the 2007-2009 Great Recession and was unique in that it involved the internal implosion of the financial system itself without outside triggers such as war, OPEC, or stringent fiscal policies which had formed the basis of prior Keynesian models.

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