The Gartman Letter and Southern Cooking

The Gartman Letter is a relatively elitist rant with serious professional insight. It’s blunt which I can’t help reading as arrogant, (given the price) but the arguments are still justified and logic conservatively expressed. It reminds me of a CTO who chooses between technology investments motivated primarily by limiting personal career risk. We’ll tease the competitors but, “Let’s go with Microsoft/Cisco.” This leaves me reassured that tomorrow will be like today, and wanting, so it keeps us grounded in conservative southern values and good home cooking! You decide.

I did enjoy the OPEC perspective and how it ‘exposed’ the Saudi shell game. Apparently refiners aren’t capable of taking advantage of the Saudi output… It has limited or non-existant value to refiners, so I understand. Additional Output = Pure Market PR. This was new information for me. Clearly the markets will trade the PR. It has for as long as I can remember, so for someone with hundreds of millions under management, I can imagine the value in this perspective – though they are likely more informed – for me it’s a wash.

As for the pricing of gold in Sterling, Yen, and Euros (but not dollars): At first I found this confusing, now I see it as leveraging those currencies’ perceived strength/weakness. In itself this is a fresh perspective, it doesn’t work yet for me, but I have 2 more weeks left to consider the question…

I’ll update this with my thoughts over the next few weeks.