Financials in Trouble, Part 2-Minyanville

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Financials in Trouble, Part 2

John Mauldin Aug 25, 2008 10:15 am


		Bank failures could total $850 billion.

Baltimore, La Jolla, and South Africa

I am home for a few weeks, enjoying the tail end of summer. On September 6, Tiffani and I will head to Baltimore to be with Bill Bonner, founder of Agora Publishing, and a host of friends, to celebrate his 60^th birthday. It is hard to believe that we have known each other for 26 years. What an incredible business model he has created. He has adapted with the times, letting his business evolve into a multi-hundred-million-dollar enterprise. I remember first going to his offices in Baltimore, which were definitely in a very bad part of town. I was nervous just walking two blocks in broad daylight; but the offices were inexpensive, I suppose.

He’s the one of the best pure writers I know. You can read some of his essays and subscribe to the free Daily Reckoning (be warned: Bill is quite bearish) by clicking on this link.

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But first, I just want to say how glad I am that Richard Russell is doing fine. For those of you who don’t know, he suffered a mild stroke last Friday. I talked to him yesterday, and he was a little tired, but doing better. He’s decided to cut back his writing schedule and relax a bit more, which is a good thing, at 84. The dean of newsletter writers, he’s written a daily commentary and the monthly Dow Theory Letter since 1958. He’s forgotten more than most of us will ever know about the markets.

His doctor told him he needed to seek some balance in his life and cut down on stress. I know how much it takes to write my one letter each week; I can’t imagine what it takes to write 5. Basically, his plan is now to post his stats and write about the markets only when something important is happening - about every two weeks. I hope he sticks with that plan, as I want to be sharing dinner and drinks with him for many years to come. I’m sure you join me in wishing him and his lovely wife Faye all the best - and a healthy and quick recovery.

Tiffani and I will then be going to La Jolla September 15 to meet with my partners at Altegris, and meet some new potential associates. Right now, drinks with Richard and Faye Russell is on the calendar, and I really look forward to it.

Then a few weeks later I will head off on a quick trip to South Africa, where I will be speaking for an investment group in Cape Town, then maybe stop off in London for a day and then hurry home in time to do my regular letter.

That’s enough to make me tired, so I think I will hit the send button and go home and see who’s there. Have a great week.

Your needing to seek my own balance analyst.
--John Mauldin


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Gina Nye

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08-26-2008, 5:35 pm
I have one question what would happen to treasury yelds if they nationalize that pair of white elephants? i have a feeling that the us AAA rating would rapidly go to hell in the hand basket Read More


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