I can’t believe it, but as I’m writing this we’re already halfway through Day 3 of our Irrational Economic Summit. My head is spinning with information and the excitement among the attendees and speakers is palpable.
This morning we heard from Josh Bennett, who discussed the benefits of establishing a domestic asset protection trust (some of which include preservation of privacy, estate tax minimization, and asset protection). Check out his entire presentation right here for those details.
Up next was Ben, one of our own research analysts at Dent Research. Ben does things a little differently than everyone else, using what he calls “social media analytics” to put his finger on the pulse of the markets. And yes, you read that correctly – social media! How cool is that?
Ben’s system essentially allows him to “hear” what high-level executives and investors are thinking.
Any time that an analyst, stock picker, research house, or even a corporate executive or employee uses the Net to communicate, Ben’s actually able to monitor their conversations via public data sources – all through the new MarketVOX indicator that he’s developed!
Now, I know what you’re thinking, and yes – this is perfectly legal. He’s not violating anybody’s right to privacy here.
But, the best part about Ben’s strategy is that a lot of this information isn’t ever going to be reported in the news by the mainstream media, and that’s because they simply don’t have access to the same amount of data that Ben does.
That gives you a leg up when it comes to making trades, because most other people won’t even know about them. So, if you want to have all the conversations and thoughts of many of the top players on Wall Street right at the tip of your fingers, you’ve got to check out what he’s doing.
After Ben, we heard from Barry Potekin, Vice President of the RMB Group.
Barry’s presentation was all about opportunities that you can find lying outside of the stock market. I’d say it’s pretty relevant considering all of the negative comments we’ve heard about stocks this weekend, and especially since their conditions don’t seem to be improving any time soon.
The RMB Group that Barry’s a part of is a collection of brokers and traders that manage different commodities. The advantages of commodities are many, but perhaps the single most powerful tool in their arsenal comes from the fact that they offer true diversification in uncorrelated asset classes.
As Barry himself said, to the chuckle of many in the crowd, “I’ve made an awful lot of mistakes in my time, but the one mistake I never made is putting all my eggs in one basket.”
When I last spoke to you, I told you that Dr. Lacy Hunt had just come one stage to talk about the debt and deficits plaguing the U.S. financial system. I’ve been looking forward to hearing Lacy speak ever since I found out that I was coming to IES, because everyone I talked to beforehand had the same two things to say about him:
- That he’s a truly amazing public speaker, and
- That he’s one of the nicest men you’ll ever meet.
Well, they were correct on both accounts.
Lacy has a very commanding presence, and it didn’t take long for me to figure out why he’s been so popular at all of our previous Irrational Economic Summits (by the looks of it, nearly all of the conference attendees showed up to hear him talk this morning.)
Lacy really drove home the fact that, as the federal government has sold off more and more of its debt, we’ve seen a shift in savings going from the private sector to the public sector as a way to essentially atone for its sins.
And as a result, the private sector has been less active in spending money – so, the economy’s weakened and interest rates have been driven considerably lower.
Lacy also explained that we haven’t gotten any better simply because we’re “deleveraging.”
See, what most people – ahem, Keynesians – don’t seem to understand is that yes, if we hadn’t borrowed money we would have had less immediate spending, but increasing our debt only furthers problems in the future.
And yet still more and more QE has been pushed into the global economy.
You know that old saying, “If at first you don’t succeed, try, try again”?
It needs to be amended to say, “If at first you don’t succeed, try, try again… and then stop.”
Last up to speak was Lance Gaitan, our very own Treasury guru, who wrapped up our morning’s session by talking about his two-pronged approach to making gains off of interest rate volatility.
He takes what most people would consider a boring investment and turns it into double, often even triple gains using both long and short-term methods of trading.
So what is that “boring” investment, you ask? You’ll have to watch this presentation to find out.
I will tell you that it’s an investment you’d never expect to be able to make with such ease and the simplicity – and profitability – of it will surprise you.
I’m going to have to wrap it up here. As we speak Howard Lindzon from StockTwits is going over why right now is actually the greatest time to be an active investor, and I don’t want to miss anything.
Tomorrow morning I’ll let you know how the rest of the day goes. I’m also going to visit a couple of the workshops this evening, including one that Lacy’s hosting about all of the fallacies surrounding macroeconomics.
If my suspicions are correct, my night will be filled with several, “I didn’t know what I didn’t know” moments.
In the meantime, remember to check #IESPALMBEACH on Twitter. We’re posting lots of interesting snippets there that I just haven’t had the time to fill you in on.
Alright, now I really must go.
Talk in the morning,
Your 2016 IES On-the-Ground Reporter
P.S. OK, so I lied. Before I go I’ve got something important to tell you. Our 2016 Irrational Economic Summit Digital Replay Kit that I’ve been telling you about – that gives you on-demand access to all the presentations, makes you an exclusive “fly on the wall” in six of the workshops, and that includes a digital copy of Harry’s, The Sale of a Lifetime – well, the offer expires for it in a couple of days. So please, hurry and reserve your access before time runs out. Details here.