“Would you invest in Brazil 15 years ago if you had the chance?” our Colombian host asked me one night, in an effort to frame the opportunity here. “Of course, that would’ve been a home run,” I said. “Welcome to Colombia.”
April 1st, 2011 | Chris Mayer | 1 comment | ContinuedArchive for Chris Mayer
Chris Mayer is a veteran of the banking industry, specifically in the area of corporate lending. A financial writer since 1998, Mr. Mayer's essays have appeared in a wide variety of publications, from the Mises.org Daily Article series to here in The Daily Reckoning. He is the editor of Mayer's Special Situations and Capital and Crisis - formerly the Fleet Street Letter.
Best Economy in Latin America?
I grew up in the 1980s, and in some ways I never left it. I still wear Ray-Ban Wayfarer sunglasses. I still enjoy those big hair bands like Guns N’ Roses and the bluesy rock of Stevie Ray Vaughan.
March 28th, 2011 | Chris Mayer | 0 comments | Continued
The Sage of Saxtons River
In 1992, I stumbled on a little book with the title The Art of Contrary Thinking by a man I knew nothing about, Humphrey B. Neill. I was only 20 years old, but it would make a lasting impression.
March 22nd, 2011 | Chris Mayer | 0 comments | Continued
Japan’s “Three Mile Island”
Japan’s nuclear disaster is tragic on many levels. My focus here, though, will be on what it means for uranium investments and the world’s energy markets. The main worry is that the situation in Japan chills the industry in the same way Three Mile Island did in 1979.
March 16th, 2011 | Chris Mayer | 1 comment | Continued
He Who Begins to Count Begins to Err
“If you spend more than 13 minutes analyzing economic and market forecasts,” the famous investor, Peter Lynch, once remarked, “you’ve wasted 10 minutes.” Oskar Morgenstern (1902-1977), a professional economist, probably would have agreed with Lynch.
February 25th, 2011 | Chris Mayer | 0 comments | Continued
The Best Investments of the Next 50 Years
Some of the most successful companies of the last half-century all had one thing in common. And I am certain that the best investments of the next half-century will also share this trait. It’s pretty simple and intuitive, yet I wonder why more investors don’t focus on it.
February 24th, 2011 | Chris Mayer | 1 comment | Continued
When Money Dies
I didn’t come up with the phrase, “when money dies,” though I like it a lot. The phrase captures an important idea. It is that money – I refer to that paper kind issued by governments – has a finite life. At some point, it becomes worthless, or dies.
February 22nd, 2011 | Chris Mayer | 0 comments | Continued
Housing Is a Buy
In a recent Daily Reckoning column, “Buy a House…Then Buy Another,” I told you about John Paulson, the billionaire hedge fund manager who switched from betting against housing to now telling people they should buy a house…or even two houses.
February 14th, 2011 | Chris Mayer | 4 comments | Continued
The Worst Possible Investing Mistake
There are many mistakes people make that ensure they won’t get rich investing. In 2011, I think one in particular mistake will hurt more than others. I can sum it up by citing the phrase, “Generals fighting the last war.”
February 11th, 2011 | Chris Mayer | 1 comment | Continued
Blowing Bubbles
For now, the earnings narrative dominates the market. All the big- picture items seem not to matter. Unemployment? Who cares? Debt and deficits at every level of government? Whatever. Companies are turning in good profits and the market is uncorking the champagne.
February 10th, 2011 | Chris Mayer | 0 comments | Continued
Inflation’s First Phase
The year 2011 is the year when inflation will play the role of wrecking ball. It seems to threaten everything from emerging markets to the pretty earnings narrative of the market as a whole. I use the term “inflation” here as the man on the street does. It is when prices for most everything go up. It is not the best definition, because it obscures the reason why prices for most everything go up in the first place. The reason is that governments everywhere can’t help but print lots of money. But let us not wander off course. It is what it is.
February 4th, 2011 | Chris Mayer | 0 comments | Continued
My Largest Personal Investment
I’m going to share with you something that I have put a good deal of my own money into. In fact, I have more money invested here than in anything else – about 40% of my personal investment account at the moment. Last year, I made 38.2% in these low-risk special situations – easily whipping the market’s 13% return. It was some of the easiest money I’ve made in my investing career. I’ll tell you how you can do the same thing.
February 1st, 2011 | Chris Mayer | 0 comments | Continued
Food Crisis II
“US Crop Stock Forecasts Deepen Fears of Food Crisis” read a recent Financial Times headline. The US government cut its estimate for key crops. This came only a week after the UN warned the world faces “food price shock.” Corn and soybean prices jumped and now sit at 30-month highs. Inventories are very tight. Corn is up 94% since June!
January 25th, 2011 | Chris Mayer | 1 comment | Continued
Buy a House… Then Buy Another
Investment ideas are cyclical. They go dormant for a while, then revive, like fashions or cicadas – obeying their own curious rhythms. During the past few years, rare was the investment thinker who said you should buy a house. Housing was in a bubble that was deflating.
January 11th, 2011 | Chris Mayer | 5 comments | Continued
New Year’s Resolutions and Predictions
The New Year invites guesses about the year ahead. I thought I wouldn’t bother this year, but then I found myself scribbling out some investment resolutions and predictions on a napkin over breakfast. Here are some of them:
January 7th, 2011 | Chris Mayer | 0 comments | Continued
