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  1. Greetings From Vancouver • July 27, 2007

    Dear Capital & Crisis Investor, The market always seems to take a dive when I travel. Earlier in the year, while I was in Argentina, the Dow shed some 700 points in about a week. This week, I’m in Vancouver for the Agora Financial Investment Symposium, and the market again is taking a beating. The winners during [...]

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  2. U.S. Infrastructure: "Dangerously Unstable" • July 20, 2007

    Dear Capital & Crisis Investor, It was a blast that made the mighty skyscrapers of New York shudder. Immediately, people thought the worst. It was the height of rush hour. The explosion took place just a block from Grand Central Station. It killed one person and injured dozens. But it turned out not be a terrorist attack. [...]

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  3. The World's Busiest Railroad • July 13, 2007

    Dear Capital & Crisis Investor, China’s Route 312 is like America’s own Route 66. It begins in Shanghai and stretches for 3,000 miles all the way to China’s western border with Kazakhstan. For a long stretch of China’s history, people didn’t use such roads much. Mostly because so few people had cars. Secondly, because most freight [...]

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  4. Time to Give Up on Rosetta • July 9, 2007

    Dear Capital & Crisis Investor, Charlie Munger likes to talk about having three buckets. “Yes,” “No” and “Too Hard.” Rosetta Resources (ROSE:nasdaq), our natural gas play, is now in the “too hard” bucket. First Calpine sues them for $400 million, which seems to have little merit. But this morning the CEO resigns out of the blue for [...]

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  5. The World's Fastest-Growing Hydrocarbon • July 6, 2007

    Dear Capital & Crisis Investor, Hope you had a nice Fourth of July. I posted the latest letter online yesterday — with my latest recommendation, FreightCar America (RAIL:nasdaq). I’ll have more to share with you on this investment in a future letter. There are many elements to this idea and it fits well with our overall thesis [...]

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  6. July 2007 Issue • July 1, 2007

    “There is no precedent for such fortunes suddenly finding their way into global financial markets” - The Economist, May 26, 2007 When you hear the phrase, “There is no precedent,” you should sit up and take notice. As this world totters on its way to some veiled future, it is in such small phrases that you will [...]

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