The Figure-It-Out Economy

Still Bullish
New Models
Jet Fuel Market

Market sentiment reflects human sentiment, which lately has been quite negative—understandably so, given the great uncertainty surrounding the coronavirus pandemic. A month ago, we didn’t know where all this was going but it was potentially serious.

I can almost begin to sense sentiment changing. New drug therapies are being announced and dozens of vaccines are in development. There is a high probability one or more will work by the end of the year. Deployment will be difficult, but doable. This change in sentiment, combined with generous fiscal support and liquidity injections, gives investors more confidence, so we see stocks rising.

I am not generally one to “fight the tape,” but I really wonder how long this can last.

Looking at it not as an investor, but as an entrepreneur and small business owner, I think some are greatly overestimating how fast the economy can recover. Entire industries, no longer viable in their current forms, must now figure out new ways to do business.

They will figure it out, too, because that’s what entrepreneurs do. But they don’t do it overnight, or even in a few months, nor do they take direct paths from here to there. I am bullish on the American entrepreneur. Betting against not only the American entrepreneur but entrepreneurs worldwide in relatively free-market societies has always been a losing proposition. That doesn’t mean it will be easy or fast.

The rules have changed. As I wrote two weeks ago, we are in the process of Repricing the World. And I mean everything will get repriced. It is not clear how this will happen. Will landlords be forced (by the market) to take lower rents from restaurants? Will the cost of our restaurant food go up? Haircuts? A thousand other things we buy?

Today we’ll look at how this may work, and what it means for stock investors. For an even deeper discussion, register for my upcoming Virtual Strategic Investment Conference, an online event running over five days between May 11–21 for 4–5 hours a day. You can watch it live and ask questions, or watch the presentations at your leisure and personal time frame from your home or office. You’ll get written transcripts, too.

I can honestly say we have never had a lineup as powerful as this SIC. I have personally constructed it to answer the questions on our minds.

  • How deep a shock is the current recession going to be, and what will recovery look like in the near term?
  • What is the longer-term impact on the economy, the markets, and society?
  • What profit opportunities will emerge from the rubble, and how do we seize them?

What will the impact be on the post-vaccine society? We will be talking geopolitics, lots of technology, specific investment ideas from some of the world’s greatest investment minds, the inside baseball of politics coming up, looking at China, Europe, and emerging markets, the fallout in the energy industry, and so much more.

This crisis has given me a chance to bring together almost twice as many speakers as I normally do, and bring them to you in the comfort of your own home or office, at a price that is a fraction of normal. Look at just a few of the names of the faculty:

Ian Bremmer, Leon Cooperman, Peter Diamandis, Niall Ferguson, George Friedman, Louis and Charles Gave (from France), Neil Howe, Lacy Hunt, Michael Pettis from China, Matt Ridley, Felix Zulauf from Switzerland, and last but not least, Ross Beaty, one of the world’s most successful gold miners.

There will be lots of short presentations combined with lots of panels and discussion. This conference is intended to give you the answers you need.

I have designed this conference to be the best roadmap I can possibly imagine for our journey into the future. I’ve tried to hit all the high points to make sure you walk away with specific, investable ideas. It will be inspirational and at times a little troubling. But that is what our future will bring. Better to have a roadmap with an idea of where to go than simply to walk into the future without a plan.

Join me. You know you not only want to, but you need to. This will be a once-in-a-lifetime event, and you don’t want to miss it.

I have written a very personal letter about this conference, outlining not just its purpose but giving you the details of every speaker and why they’re there. I am giving you the opportunity to see the “why” of every speaker. There are some famous names but also some less famous but brilliant thinkers you need to hear from right now. You can read that letter here. I think you will find it extraordinarily helpful as you make your own personal plans for the future, for your investments, your family, and your business.

I can almost guarantee you will be like the thousands of conference attendees who have over the years told me, “This has been the best conference ever.” I can tell you there will never be another one like this. Be there!