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CNBC - Einhorn, Stiglitz, and Evenutally Jim Grant on the Economy, Gold, and Oth


Myth465
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Stiglitz is probably my favorite Economist.

 

Einhorn on his positions. (I own Ensco and have for a few years).

 

http://www.gurufocus.com/news.php?id=116172

 

Stiglitz and Einhorn on the Economy

 

http://www.gurufocus.com/news.php?id=116183

 

Einhorn on a few different things

 

http://www.gurufocus.com/news.php?id=116130

 

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Einhorn and Jim Grant with both be on Charlie Rose later this week. I will link when those interviews go Live. Grant will be talking about Gold, not sure what Einhorn is talking about.

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Guest broxburnboy

Stiglitz is probably my favorite Economist.

 

Agreed... Stiglitz has had a consistent, accurate view on monetarism coupled with real world experience.

 

I believe Jim Grant (Grant's Interest Rate Observer) has recently switched teams from the deflationists to one who expects a hyperinflationary outcome.

 

Should be good viewing

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Charlie Rose remains the best way for a person to expand their mental models. Covers Investing, Politics, Current Events, and Media / Entertainment. It and one other show are the only shows I watch daily.

 

All about gold with John Hathaway, Peter Munk, & James Grant

 

http://www.charlierose.com/view/interview/11330

 

David Einhorn, President of Greenlight Capital

 

http://www.charlierose.com/view/interview/11333

 

Gold bugs could learn alot from Grant. He doesnt come off as a doom and gloom stock up on can food kind of guy. Disagree or agree, I will always be listening to what he has to say.

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I wonder if it's possible to have a tiny super cheap house built, and then make the floors out of gold brick or something else of lasting quality (like copper).  You know, so that you barely have any cost in the house itself, but then you have tremendous cost associated with the expensive commodity.  You then put something minimal down, like get an FHA loan and 5% down.  Or 20% down if you can't get FHA.  You get a long term 30 yr conforming fixed interest rate.

 

That would pretty much hedge you out right?  I mean, you wouldn't have too much tied up in the house, and your interest costs wouldn't go up with a takeoff of inflation.

 

Maybe even Broxburnboy would concede that such a house is an asset. 

 

It's a shame I didn't do this back when you could finance 100+% of a house.  It would be a call option on gold or copper, where you just turn in the keys if the commodity goes the wrong way.  Perhaps I'm surprised we haven't yet heard of homebuilders pushing homes like this on late night TV -- they could revive the "home is an investment" pitch.

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I wonder if it's possible to have a tiny super cheap house built, and then make the floors out of gold brick or something else of lasting quality (like copper).  You know, so that you barely have any cost in the house itself, but then you have tremendous cost associated with the expensive commodity.  You then put something minimal down, like get an FHA loan and 5% down.  Or 20% down if you can't get FHA.  You get a long term 30 yr conforming fixed interest rate.

 

That would pretty much hedge you out right?  I mean, you wouldn't have too much tied up in the house, and your interest costs wouldn't go up with a takeoff of inflation.

 

Maybe even Broxburnboy would concede that such a house is an asset. 

 

It's a shame I didn't do this back when you could finance 100+% of a house.  It would be a call option on gold or copper, where you just turn in the keys if the commodity goes the wrong way.  Perhaps I'm surprised we haven't yet heard of homebuilders pushing homes like this on late night TV -- they could revive the "home is an investment" pitch.

 

Interesting idea except for the cost of security or insurance. (Thus making it still a liability for Broxburnboy.)  I remember a contractor telling me about a job he was working on the last time copper prices were going through the roof in 2008. Apparently, thieves had broken into the house (which the homeowner had left vacant, in between tenancies) and stripped it of all the copper pipes and wiring. Cost the homeowner a lot more than the value of the copper to repair the damage!

 

But, I guess it might work if you bought guns and tinned food to go with the gold and build the house out in the boondocks. :)

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I wonder if it's possible to have a tiny super cheap house built, and then make the floors out of gold brick or something else of lasting quality (like copper).  You know, so that you barely have any cost in the house itself, but then you have tremendous cost associated with the expensive commodity.  You then put something minimal down, like get an FHA loan and 5% down.  Or 20% down if you can't get FHA.  You get a long term 30 yr conforming fixed interest rate.

 

That would pretty much hedge you out right?  I mean, you wouldn't have too much tied up in the house, and your interest costs wouldn't go up with a takeoff of inflation.

 

Maybe even Broxburnboy would concede that such a house is an asset. 

 

It's a shame I didn't do this back when you could finance 100+% of a house.  It would be a call option on gold or copper, where you just turn in the keys if the commodity goes the wrong way.  Perhaps I'm surprised we haven't yet heard of homebuilders pushing homes like this on late night TV -- they could revive the "home is an investment" pitch.

 

Interesting idea except for the cost of security or insurance. (Thus making it still a liability for Broxburnboy.)  I remember a contractor telling me about a job he was working on the last time copper prices were going through the roof in 2008. Apparently, thieves had broken into the house (which the homeowner had left vacant, in between tenancies) and stripped it of all the copper pipes and wiring. Cost the homeowner a lot more than the value of the copper to repair the damage!

 

But, I guess it might work if you bought guns and tinned food to go with the gold and build the house out in the boondocks. :)

 

That's true.  Perhaps best to pour the foundation with the molten metal.

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