March 21, 2017

We see silver as undervalued vis-à-vis gold but more especially vis-à-vis stocks, bonds and many property markets. Rather than selling the financial insurance that is gold, we would advise reducing allocations to stocks, bonds and property and allocating to physical si...

March 20, 2017

"Unlike Forrest Gump, I was not an "early adopter" Apple investor. I used an IBM personal computer at work and at home I used a PC that was built by an IT friend. I was aware that Macs were preferred by artists and designers, but I never considered buying an Apple comp...

March 12, 2017

From RIT Capital Partners Annual Report...

"Our investment policy throughout 2016 has been one of continuing caution with an emphasis on capital preservation… At this time of upheaval and uncertainty, our investment portfolio will continue to be well diversified. There...

March 5, 2017

Blogging from the Jungle today. Sincere apologies to those of you stuck in winter, we are really feeling for you today...

My optimism in emerging markets opportunity grows every time I travel and see the rest of the world catching up and in some cases surpassing western...

Current or near-term jobs in manufacturing are not the critical issue. We are rapidly entering the Age of Transformation, a period in which change will continue to accelerate until it comes at us blazingly fast. And I’m not talking about just the introduction of new te...

February 28, 2017

 Residential real estate has been on a tear these last two years, led by the Seattle and Portland Metro markets. 

Much of the credit goes to Chinese buyers getting dollars invested, some to the continuing migration to the Northwest. 

Oregon continues to be the...

February 28, 2017

Industrial vs. Investor

... the key factor to silver is industrial fabrication representing around 60% of total demand. At first glance it might not make sense to many, as fabrication demand has been in decline since peaking at 676.3 million ounces in 2011.

 The hi...

Analysts’ estimates remain far too high given this troublesome background, essentially a no-growth baseline. And so quarter after quarter the rebound loses energy and momentum, a more accurate reflection of almost totally lost (global) potential. When Q4 started in Oct...

So, the Federal Reserve and foreigners have ceased buying and Intra-Governmental surplus have been muted by demographic and population shifts...that means nearly $70 billion a month domestically being spent on low yielding Treasury bonds instead of stocks, instead of c...

"we are keeping our eyes open for asset prices to try to look for signs of bubbles” but admitted that it is "very hard to see asset bubbles in advance."

New highs in most indices, not supported by new highs in revenues or earnings.  What is driving these values? Feeling...

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The Whitewater Blog

Portfolio Justification and Devils' Advocacy