Tuesday, March 10, 2009

Most important prediction of 2009

Robert Kubica will win this year's Formula One championship, in the Swiss German BMW Sauber.

At least he'd better, otherwise several crates of Belgian Belle Vue Kriek beer will be wasted in vain, though much fun will be had in Zurich Canton, in drinking it.

6 comments:

rutherford said...

Hi,

I have a blog with very similar views. But I was wondering if you can point me towards somewhere that I can invest in oil, etc. I know of Schiff, but I want to invest through more local means.

Gary

Jack Maturin said...

If you want local means, you'll have to do local research, I'm afraid.

Investing in commodities is a risky business so you have to fully educate yourself in the entire process.

You won't get that kind of education via a blog site.

Start by reading every Jim Rogers book you can get your hands on, plus every book he recommends in those books, particularly any on commodities.

That's a base level of knowledge. (Plus, along with 'Traders, Guns, and Money' by Satyajit Das, and 'Reminiscences of a Stock Operator' by Edwin LeFevre).

After that, you'd be looking at ETFs and oil-related indexes. If you don't know what they are, you need to find out.

Do not invest in oil futures or any other form of oil derivative until you know exactly what you are doing and you are in a position where you can afford to lose every penny you invest.

Any other advice beyond this will cost you £1,000 pounds an hour.

rutherford said...

Thanks.

I watch Jim Rogers, but having never been into stocks, etc. I don't know much about the best ways to invest. Gold and silver are simple enough; though if I knew more I would love to get into mining stocks.

I have Schiff's first book and have benefited a lot from it. I just wondered if there was any likeminded brokers in the U.K. that you were aware of.

Anyway, thanks again. Up till now I've mainly had to apply Austrian thinking to the U.K. myself, so it will be good to learn more from someone who obviously knows a lot more than I do. (You'll see that I mostly just put links to Schiff, Rogers, etc., and point out news items.)

Gary

Jack Maturin said...

Many, many traders and financial operatives in the City hold long-term Austrian outlooks. But to make healthy commissions, they act in a short-term Keynesian way.

The whole machine is based on quarterly (or even daily!) P&Ls, which very rarely stretch beyond a year.

There are no 'Austrian'-based investment companies in the City that I know of or have found. (And I'm looking all of the time.)

There may be some around though. There are thousands of little companies all over the City, all doing all sorts of things. I only know most of the big ones.

If anyone out there does identify any 'Austrian'-minded companies in London, please let me know, as I'll be applying to work for them in an instant.

This is a gap in the market that somebody is going to make a lot of money filling, being a 'Schiff-like' Austrian-style broker, if there really is no-one out there.

I think Mr Schiff is too busy himself in expanding his US operation to fill the niche.

But somebody here will, I hope.

You never know, it might even be yours truly if all of my dastardly plans for world domination come to fruition! :-)

Jack Maturin said...

Great blog, BTW. Keep up the fantastic work! The more of doing this, the better.

Link should appear soon, on blogroll.

rutherford said...

Thanks. I'm starting to look into ETF's a bit. But I'm not working with much.

The site is of use to some friends (and a few others), pointing out useful resources I come across in my own travels, so to speak. Right now it may help a few not to get robbed blind by the State. There aren't many true voices for liberty in the U.K.; at least not many very consistent ones.

It seems to me that real capitalism is one of the only weapons that can slay this beast.

I'll be visiting here regularly. Thanks, again.

Gary