Yesterday was a special day. We kicked off our third annual Irrational Economic Summit with a bang – beginning with our senior and founding editors, Harry and Rodney… our Chief Investment Strategist, Adam O’Dell… and our keynote speaker, the wonderfully funny P.J. O’Rourke.
Since joining with Dent Research back in March, I’ve worked with Harry, Rodney, Adam, and all the other guys quite a bit. I’ve watched a fair number of their recorded presentations, but I’ve never actually seen the guys speak LIVE.
Here’s the thing I like about Harry: there’s no bullshit. Man, does he just say it as it is!
As for Rodney, the guy’s a textbook. He’s so chock-full of information. The man’s just brilliant.
Then there’s Adam, who’s 100% dedicated to his research and absolutely full of wisdom. So much so, it’s palpable. He’s a nice guy to boot! On our way downstairs, he escorted me all the way to the conference room in my wheelchair. (Yes, I’m cruising through the conference in a wheelchair after injuring my right leg in a freak accident about a week ago. As a colleague put it, I’m the youngest guy in the room and the only one in a wheelchair!)f
We launched the conference with an introduction from each of our 15 speakers, then Harry took the stage…
When it comes to Harry… let me just tell you, I’ve spent countless hours on the phone with the man, and we always, always cut to the chase. It’s no different with anyone else. One-on-one, on national TV, or in front of a live audience of 300 men and women, he’s exactly the same. Demographics, cycles, bubbles – he lives it. It’s just who he is.
Within his first five seconds on the stage, he had the crowd rolling with his “I am a happy camper” line – happy because the bubble he’s been on-and-on about for years FINALLY looks done. And as he explained, that’s just the half of it.
At the crux of his argument lies what he calls: “The 5th Convergence.”
I’m not kidding when I say it’s as spooky as it sounds!
As he put it to the 1,000-plus Irrational Economic Summit viewers yesterday, the four greatest financial crises of the past two centuries have occurred when all four of his key cycles – the same ones he uses to predict economic booms and busts decades in advance with startling accuracy – were pointing down. And those four key cycles are pointing down again!
He went on to list a number of triggers that could open these floodgates. I recommend you watch the full presentation if you’re not physically here or watching via LIVE Stream. You can do so by accessing our IES 2015 On-Demand Recordings of the event.
After Harry’s presentation, Rodney took the mic to ask an important question: “Given everything that is wrong with our economy, why aren’t politicians talking about… I don’t know… THAT?!”
Probably because politics have absolutely little to do with reality, but that’s beside the point.
Rodney listed a number of very real issues threatening our economic well-being entirely beyond the already grim macroeconomic perspective of Harry’s cycles. The student-loan system is a catastrophe waiting to happen. The tax system is a multi-billion dollar industry that makes little sense. And there’s page after page of bogus regulations that make running a small business near impossible, because who knows what mal-practice some random citation officer might nail a small business owner with!
My favorite part of his presentation was this telling detail: in 2008, when the housing market was crashing, when the stock market was crashing, and the whole financial landscape was in a landslide, politicians were concerned about steroid use… in baseball.
Whatever gets votes, right!?
After a half-hour coffee break, Adam offered his recommendations for investing in global markets during this period of high volatility.
This presentation got technical at moments, but Adam has a knack for breaking down complex topics.
In it, he covered the average gains you could expect to earn in the S&P 500 by just buying and holding over the next year, as well as the stock markets in 15 of the top world economies. Simply put, we’re looking at a different market environment where that won’t work. There’s too much volatility and too much risk. That’s why a trend-based strategy like he uses in Cycle 9 Alert is a much better alternative. This was a very detailed and highly informative presentation that you need to watch.
Finally, after a long afternoon packed full of insight from three great men, our keynote speaker P.J. O’Rourke closed out the day with some much-needed humor. Like he said, the only things worth laughing about are those with the greatest consequences… and that’s what we’re all here in Vancouver to discuss.
Seriously, what a chilling first day! By the end of the cocktail reception, we were all a little bleary-eyed, but still amped up from all the terrific speakers.
Today, we hear from Harry’s favorite economist Dr. Lacy Hunt on the characteristics of extremely over-indebted economies, Dr. Keith Jurow on why NOW is the best time to sell your investment real estate, Chris Gaffney on how to tell if your portfolio is insured for the next global financial crisis, and many more.
I’ll send the highlights to your inbox later this afternoon.
‘Til then, reporting to you live from IES 2015, Vancouver…
P.S. I’m particularly interested in hearing Keith speak today. We only recently discovered him, but as he put it, he’s the only other analyst besides Harry who, in the past five years, has said our so-called housing recovery is an illusion. He’s promised me some pretty terrific graphics. From what I can tell, he seems like a rather dynamic speaker. Catch his presentation here.