Is it me, or do prolific market pundits Jeffrey Saut and John Mauldin spend their days writing and giving interviews for marketing purposes?
I suppose someone’s got to do it, but with the public so angered by bankers shamelessly giving themselves enormous bonuses, I was especially struck by the tone deafness of Saut’s February 22 “investment strategy” piece (which included a plug for fellow members of the market guru brotherhood Dennis Gartman and David Kotok):
The call for this week: John Mauldin and I discussed the “state of the state” as we cruised around the Gulf of Mexico in my boat yesterday while wearing our Minyanville hats. John is more worried about deflation, while I remain worried about inflation. This morning, however, the equity markets don’t seem to be worried about either as gold, and crude oil, are relatively flat and the pre-opening S&P 500 futures are better by some 4 points. We think the trading lows are “in” and have tilted accounts accordingly.
Saut and Mauldin are filing stories as they cruise around the Gulf of Mexico. Good on them, but it probably leaves the readers — and presumably their clients — wondering just Where Are the Customers’ Yachts?
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“Yachts” was a very funny book! Right up there with “The Money Game”
Now here’s Maludin’s description of his great weekend with Jeff Saut.
I am in Tampa meeting with Raymond James Chief Investment Officer Jeff Saut, who graciously took us out on his boat yesterday in what I am told was the first good weather Florida has had in months. I need to get out like that more. It was good to take a weekend away with no computer. But I am back at it today, with your Outside the Box arriving on schedule.
One financial hand (members of the stroking club) strokes another. OMG where does that leave us?
Florida – Such an Colourful place.
That Yachts book rings as true now as it did originally in 1940. It has an inspired title. I think I will check it out again and give it another read.
One can get a really good deal on a “Yacht” these days. If you thought the US real estate market was hit hard, you should look at the US boating and yachting industry. There are amazing deals to be had…
Maybe Saut and Maludin bought a “yacht foreclosure” from one of their clients who lost all their money in the market crash?
Having a “Yacht” does not always mean that you are rich. I agree that some are really obnoxious. What always amazed me was how much the yacht gas costs…it is not uncommon to put $2k to $10k into the tank… “They are truly a hole in the water that one pours money into…”
in Missouri, they wouldn’t have to pay sales tax on those yachts (nice exemption, huh?
They tax cigarettes, but not cigarette BOATS … Talk about regressive ! – LOL
but they tax the beer you must have to have a good time in a cigarette boat….
There is actually a “90 day” yacht club down in Ensenada, Mexico. There is a loophole in the US tax code that you pay no US sales taxes on yachts (even multi-million dollar boats) if you take posession in international waters (not hard in a boat) and keep the boat in Mexico (or out of the country) for 91 days out of the 1st 6 months. I have a family member with a yacht in San Diego and he legally saved $82k in taxes doing that…plus…it is a nice sailing trip back and forth 🙂
Eric sent in this link of Barry’s reverse justification of being banned from CNBC.
I’m sure he’ll be back, ’cause he’s got something to flog. Until then, it sounds like sour grapes to me. I mean, Barry is not a trained economist.
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