Sunday , October 20 2019
Home / Mauldin Letter
The author John Mauldin
John Mauldin
Financial NY Times best-selling author, pioneering online commentator. Over 1 million readers turn to Mauldin for his view on Wall Street, markets, and history.

Mauldin Letter

Decoding the Fed

“In the economic sphere an act, a habit, an institution, a law produces not only one effect, but a series of effects. Of these effects, the first alone is immediate; it appears simultaneously with its cause; it is seen. The other effects emerge only subsequently; they are not seen; we are fortunate if we foresee them....

Read More »

Our Nuts Are in Danger

Life would be so much easier if we didn’t have to worry about our financial futures. Though I suppose we don’t have to worry. Animals don’t. Squirrels instinctively store away nuts and thus live through winter without much thought. We humans have retirement winters, and we’re more sophisticated than squirrels. We...

Read More »

Quantum Economics

I often say a writer is nothing without readers. I am blessed to have some of the world’s greatest. Your feedback never fails to inspire and enlighten me. Last week’s That Time Keynes Had a Point letter brought many more comments than usual. Apparently Keynes is still provocative 73 years after his death, no matter...

Read More »

That Time Keynes Had a Point

“Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.” ―John Maynard Keynes I begin with this Keynes...

Read More »

Black Hole Investing

Scientists say the rules change in a cosmic “black hole” at what astrophysicists call the event horizon. How do they know that? Not by observation, since what happens in there is, by definition, un-seeable. They infer it from the surroundings, which say that the mathematics of the universe as we understand them change at...

Read More »

Dalio’s Analogue and Mauldin’s Commentary

“The best way out is always through.” —Robert Frost “History doesn't repeat itself, but it does rhyme.” ―Mark Twain It will not shock you when I say we live in confusing times. Odd, seemingly inconsistent events and decisions don’t bring the expected results. Once-reliable rules don’t work. This makes it hard to chart a...

Read More »

Volatile Year Coming

We have reached Labor Day weekend which, in the US, is a holiday for honoring work and workers. If you’re a Baby Boomer like me, you also grew up knowing school was about to start again. We didn’t do the mid-August thing back then. The first day of school was the day after Labor Day. That meant entering a new grade with...

Read More »

Digging a Hole to China

Good news: The trade war is over. No, it’s getting worse. Or maybe it is ending but it could start again tomorrow. Confused? All of the above were true at various points in the last few weeks. Markets bounced around in reaction. And we are still no closer to knowing how it will all end. Needless to say (but I’ll...

Read More »

What I Learned at Camp Kotok

I am back from my 14th annual Maine fishing camp and the mood was decidedly different this year. The private event at Leen’s Lodge is generally called Camp Kotok in honor of David Kotok of Cumberland Advisors who started these outings many years ago. CNBC and others began calling it the “Shadow Fed” but it is really just a...

Read More »