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  1. An Old Stock, a New Buy • October 31, 2008

    “They told me to buy this stock for my old age. It worked wonderfully. Within a week, I was an old man.” – Eddie Cantor (1892-1964), comedian and author of Caught Short! A Saga of Wailing Wall Street Dear Capital & Crisis Reader, Happy Halloween! I’m glad to see the book closed on October. What a frightful month, [...]

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  2. On APL's Sinking Stock Price and More • October 29, 2008

    Dear Capital & Crisis Reader, I thought I would write you today and let you know why Atlas Pipelines (APL:nyse) is down 19% (as I write) on huge volume. The reason is that a Citi analyst put a sell on the stock this morning. He also reduced his target on the stock from $31.50 to $14.50. It’s [...]

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  3. The Nutmeg Bubble • October 24, 2008

    “This market is worse than a divorce. I’ve lost half of my money but I still have my wife!” – Old joke told by Leon Cooperman at Grant’s Investment Conference Tuesday Updates: GGG, ABB, NWPX Dear Capital & Crisis Reader, The 10 Banda islands of eastern Indonesia were once the most valuable islands on the planet. It was all [...]

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  4. One Sell and Two Earnings Updates! • October 23, 2008

    Dear Capital & Crisis Reader, Your editor has a slow trigger-finger when it comes to selling. This is both a blessing and a curse, depending on the circumstances. By temperament and training, I’ve not often reached for the quick 40% turn. I have seen hundreds of percentage points of gains foregone in grasping for the short-term [...]

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  5. Greetings From San Juan, Puerto Rico • October 17, 2008

    Ethan (Played by John Wayne): Well, Reverend, looks like you’ve got yourself surrounded. Rev. Clayton: Yeah, and I figure on getting myself unsurrounded. – The Searchers (1956) Dear Capital & Crisis Reader, I’m in San Juan, Puerto Rico, where I am taking a short vacation with the family. We planned this more than a month ago, but our timing [...]

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  6. Two Extraordinary Values for Monday • October 13, 2008

    “Assets are being given away. They may not do well in the next several months, but looking ahead two or three years, investors may see some of the best opportunities of their lives.” – James Paulsen, Wells Capital Management Dear Capital & Crisis Reader, Over the weekend, The Wall Street Journal reported a fact that shows just how [...]

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  7. The View From Manhattan • October 10, 2008

    Dear Capital & Crisis Reader, We’re getting killed. This is truly one for the history books. People will write about this time alongside the great market crashes of history. It’s important to appreciate that because if you have any money at risk at all in the stock market, there has really been no place to hide. It’s [...]

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  8. Notes on Every Stock We Own • October 3, 2008

    Dear Capital & Crisis Reader, Please read the following notes carefully. The unspooling credit crisis is severe — extremely so. According to my old banking contacts and others I’ve spoken to in the field, the credit markets are about locked up. Money is tight. It’s as bad as anyone can recall, ever. With that in mind, I’ve [...]

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  9. The Topsoil Crisis… and How to Play It • October 1, 2008

    “Taking the long view, we are running out of dirt.” - David R. Montgomery, geologist Over the summer, Iran bought a large amount – more than 1 million tons – of wheat from the U.S. That’s something we’ve not seen in 27 summers. In Iran’s case, a tough drought cut the wheat harvest by a third, forcing the [...]

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