ABOUT THE BOSS
HALL OF FAME
Summer 2002 – He pointed out that the most probable economic and financial outcome for the future was stagflation, much like the world saw in the ’70s, provided that you understand CPI for what it is: a joke!
Spring 2003 – He screamed from the roof to mortgage your home and your wife, buying gold and (above all) silver with that and every other money you could get. He set the target price at 1,650 $ for gold and the Moon for silver.
Fall 2003 – “One thing for sure, in a few years you’ll need 1.6 $ to buy one euro!”
Fall 2003 – He did warn that the Fannie and Freddie’s freakish books expansion the world was starting to see, a surrogate to hide monetary inflation, would result in “the sublimated quintessence of a (debt) problem”. Not a problem, but THE problem!
2004 – He explained the deflation to be a chance just theorethical in a fiat monetary regime, where the only difference between “money” and debt is just the fact that the first has not to be discounted, with the corollary that in such a regime low yields on sovereign bonds testified inflation (not the contrary, as widely believed). Therefore, he invited Mr. Prechter to change his pusher (to no purpose, poor Robert has continued to call tens of gold top until today while still waiting for deflation, he’s waiting since 1994).
2006 – He disputed the Rothbardian thesis of the “liquidity preference”, stating that every saving is ipso facto an investment (no matter the outcome).
2007 – He did theorize that a global fiat monetary regime, where Money is completely out the payments’ system, can not blow out for endogenous causes (i.e. the never ending expansion of the debt/credit).
February 2008 – He advised to short the British Pound and to go long the Japanese Yen.
July 2008 – After the conservatorship of Fannie and Freddie, he increased his target price for gold to 3,200 $ from 1,650 $. The target price for silver was set at “going bananas” from “to the Moon”. Jury’s still out here, but things look promising.
2009 – He scored the better annual (13 months) performance ever seen in the money management world (ok, not really sure here).
2010 – His Total Invested Capital portfolio is up almost 40% since inception in November 2007, the world top for equities. No mutual fund (long equity only) can boast a similar performance.
2010 – His Julians portfolio is up 105% since inception in August 2008, the eve of the world financial crash.
2010 – His 2010 global performance confirms him in the top 5% of the money management world, based upon hard, cold numbers.
2011 – Gold breaks out his first target (called in 2003), smashing 1,650 $ per ounce. Stay tuned: to break the second target (3,200 $, called in 2008) probably will not take that long.
2011 – His “Top Free Cash” portfolio and “Time’s on my side” Partnership delivered one more year of exceptional return on the investment.
2012 – He came out with a very simple proposal to get out of the nightmare unleashed on Humanity since 1694 (gone viral since 1913). Unfortunately, he can theorise how to save the world, but can’t force the world to be saved.
HALL OF SHAME
2004/2007 – He did underweight the equity allocation all the time.
2007 – He did advise to buy ISK denominated bonds.
2008 – He did buy Pirelli Re all the way down.
2008 – He did pick some of the worst businesses to own at that point of the cycle (Valero, Georgia Gulf, ExpressJet, Westwood One),
2010 – He’s still working ten hours daily for a living. Notwithstanding his 2010 global performance confirms him in the top 5% of the money management world, every idiot working for a financial institution earns several times his annual income.
2011 – Ok, ok! Maybe the 2011 performance was not so great after all, but….. hey, did you see the John Paulson’s performance (he got paid billions for that).
2013 – He pretends with his portfolio “Julians” to stay solvent longer than financial markets can stay irrational.