Archives for June, 2014
At the age of 20 Bernard left his job as an account clerk on Wall Street and headed to Cripple Creek, near Denver, to make his fortune from mining. It didn’t turn out well. “I learned my first lesson in money making – that people who try to get rich…
This graphic shows the gigantic size of US debt, compared with revenue. Another disturbing trend is the large and persistent deficits of recent years. What is not shown is the future debt of unfunded government programs, such as Obamacare (the Patient Protection and Affordable Care Act). These programs are estimated…
Jesse Livermore was born on a farm in Massachusetts, on July 26 1877. He was trading by the age of 14. Early family history is not clear, but it appears his father was a hard master and wanted Jesse to say on the farm. But he had his mother’s blessing…
This post is based upon an interview with Gordon yesterday. Gordon is a stockbroker and principal with Morgans’ Caloundra office. Morgans are sponsors of marketcap.com.au. Contact Gordon here. China and Iron Ore Gordon considers that Western markets have a “bipolar” view of China. Minor economic improvements cause the bulls to rave,…
The following images clearly show the problems that are developing with the ever increasing cost of energy discovery and production. Most commentators agree that an overall EROEI (Energy Return on Energy Invested) of 10 to 12 is required to support modern economies. That is about where we are now. Source:…