Let Rome in Tiber melt

Rome did melt into the Tiber. The place was invaded by barbarians...the population sank from over a million to under 100,000. And when the city was “rediscovered” by tourists with a sense of history in the 17th century...there were goats grazing amid the ruins of the ancient city.



There are people who believe that power, progress, and wealth are always on a rising slope. Let them come to Rome!



Roman property was a sell for a period of probably a thousand years...from the peak of Roman power, around 100 AD, down to its nadir, sometime after the Renaissance.



We have come to Rome on your behalf, dear reader. We poke through its dusty ruins looking for the future. There are more ruins to come, we think...



(Oh, the labors we undertake for your sake, dear reader. Last night, trying to get in the spirit of the place, we drank nearly a whole bottle of wine from Abruzzo. Today, we will go with a Tuscan variety...)



But let us first look at the news:



“Does the US matter any more?” The question comes to us from the head of research at Societe Generale . Looking at the data from the International Energy Agency in Paris, reported in this space yesterday, he noticed that now China, Russia, India and the Mideast use more oil than the USA. What’s more, energy use in America is going down...while it is skyrocketing in those other countries. Thanks largely to growing demand in the emerging markets...and the falling value of the U.S. currency...the price of oil hit a new record yesterday – at $118.



The United States matters less and less to the oil market – but is still very important, of course.



We have guessed that the United States of America is a sell. Its money, its paper, its property, its labor, its stocks, its industries, its debt – sell them all.



We don’t mind saying so...still, we don’t like to hear the foreigners say it. A man may have noticed the swelling with his own eyes; still he doesn’t like to hear a stranger say his wife is getting fat. So when the Financial Times comes out with an article saying the same thing, it sticks in our craw.



At least the FT is nice enough to use a euphemism. Instead of seeing the United States on its knees, it sees the “end of unipolarity.” As we all know, when the Soviet Union threw in the towel in 1989, the US was the world’s undisputed hegemon. America was on top of the world – with no real competition. It was a “unipolar” world, as the FT would put it. The stock market boomed. The dollar rose. America’s chest swelled with homegrown pride and the entire world’s credit. And by the late ’90s, President Clinton summed it up: “things couldn’t get better,” he said.









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Bill Bonner from Italy. Air is going somewhere else

From the Financial Times comes the view from the sunny side of the street:



“The optimistic view is based on two distinct elements. First, that the deleveraging process is reaching its natural end as valuations stabilise and institutions come clean about their losses and raise capital; second, that a series of previously unthinkable policy responses have been effective in restoring liquidity to the financial system.



“Both views have merit. Financial institutions, particularly in the US, have recognised the scale of the problem and are taking remedial steps. Just witness the recent round of capital raising by Citigroup, Merrill Lynch, JPMorgan and Wachovia . At the same time central banks in Europe and the US have opened up their financing windows, expanding the size of the financing, the range of institutions that can access it and the list of eligible collateral.”



The report goes on to suggest the alternative...that policy reactions (by the Fed and other central banks) may be “too little, too late.”



And here, we think the writer is wrong on both scores. That is, the real problem is not one that can be fixed by putting more money into the banking system. It’s more basic than that. When a bubble pops, it’s almost impossible to pump it up again. You pump and pump...but the air goes somewhere else. The consequence of the dot.com bubble, for example, was that expectations for the new age of computerized communications were over-bought. New money could be put into the system. But the new money didn’t go into dot.coms. It went into housing and finance. Now, those bubbles have popped too. The authorities are pumping new money into the banking system...but where is it going? We already have plenty of houses in America – more than enough. Don’t expect a boom in the housing industry anytime soon. And take all those leveraged, sophisticated CDOs, MBSs, SIVs, and the rest – please! Who’s going to put more money into those?



No, dear reader, that’s not the way it works. New money looks for a new home...a new bubble to inflate...not one with a hole in it.



Our guess...and again, we warn readers that we are just guessing...is that this inflation is going into gold, commodities, oil...and, yes, emerging markets. Our guess is that the setback for emerging markets is just a correction, not a fundamental shift of direction.



Our guess is that the setback for gold – down below $900 – is also just a correction, not the end of the bull market. Indian stocks...the Vietnamese economy...commodities...gold – all still have a lot of room on the upside.



Our resident commodities guru, Kevin Kerr, couldn’t agree more. “A nasty rumor has been going around that the commodity markets are old hat and will soon go the way of the dinosaur,” says Kevin.



“‘They’ have been saying that since I started on the floor almost 20 years ago. I’m here to tell you that not only are these markets stronger and more modern than ever, but there’s never been a better time than right now for investors like you to make lifestyle-changing profits, and probably more quickly than you ever thought possible. I know, because I’ve done it myself!”









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Japan's Notes Poised for Biggest Slump Since 1999 on Inflation

Japan's five-year notes headed for the biggest slump in almost nine years after inflation rose at the fastest pace in a decade in March, adding to speculation the Bank of Japan will increase interest rates this year.



Government notes declined for a second day, pushing yields to the highest in six months, after the statistics bureau said core consumer prices climbed 1.2 percent from a year earlier after gaining 1 percent in February. The probability that the central bank will raise its target rate this year climbed to 79 percent from 39 percent yesterday, according to calculations by JPMorgan Chase & Co. using interest-rate swaps.



http://www.bloomberg.com/apps/news?pid=20601087&sid=aYruOQCFHlQs&refer=home









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The Shape of the US Recession: V or U or W or L-Shaped?

Roubini in Gulf Times



http://tinyurl.com/6qmodl



Now that it is clear that the US is in recession, the debate has moved on to whether it will be short and shallow or long and deep – a question that is as important for the rest of the world as it is for the US.



The answer depends on the shape of the US recession: if it is short and shallow, sufficient growth elsewhere will ensure only a slight global slowdown. But if the US recession is long and severe, the result could be outright recession in some countries (the United Kingdom, Spain, Ireland, Italy, and Japan), and even financial crises in vulnerable emerging-market economies.

In principle, the US recession could end up being shaped like a V, U, W, or L. Which of these four scenarios is most likely?



The current consensus is that the recession will be V-shaped – short and shallow – and thus similar to the US recessions in 1990-91 and 2001, which lasted eight months each.

Most analysts forecast that GDP will contract in the first half of 2008 and recover in the second half of the year.



I expect a longer and deeper U-shaped recession, lasting at least 12 months and possibly as long as 18 months –- one of the most severe US recessions in decades – because today’s macroeconomic and financial conditions are far worse.



First, the US is experiencing its worst housing recession since the Great Depression, and the slump is not over. Construction of new homes has fallen about 50%, while new home sales are down more than 60%, creating a supply glut that is driving prices down sharply – 10% so far and probably another 10% this year and in 2009.



Already, $2.2tn of wealth has been wiped out, and about 8mn households have negative equity: their homes’ are worth less than their mortgages. By 2010, the fall in home prices will be close to 30% with $6.6tn of home equity destroyed and 21mn households – 40% of the 51mn with a mortgage – facing negative equity.



If owners walk away from their homes, credit losses could be $1tn or more, wiping out most of the US financial system’s capital and leading to a systemic banking crisis.



Second, in 2001, weak capital spending in the corporate sector (accounting for 10% of GDP) underpinned the contraction. Today, it is private consumption in the household sector (70% of GDP) that is in trouble.



American consumers are shopped-out, saving-less, debt-burdened (136% of income, on average), and buffeted by many negative shocks.



Third, the US is experiencing its most severe financial crisis since the Great Depression. Losses are spreading from sub-prime to near-prime and prime mortgages, commercial mortgages, and unsecured consumer credit (credit cards, auto loans, student loans).



Total financial losses – including possibly $1tn in mortgages and related securitised products – could be as high as $1.7tn.



Given these staggering sums, the US could face a double-dip,

W-shaped recession. The main question is whether the tax rebate that US households will receive in mid-2008 will be consumed – thus leading to positive third-quarter growth – or saved.



Given how financially stretched US households are, a good part of this tax rebate may be used to pay down high credit card balances (or other unsecured consumer credit) or to postpone mortgage delinquency.



Fortunately, an L-shaped period of protracted economic stagnation – Japan’s experience in the 1990’s – is unlikely. Japan waited almost two years after its asset bubble collapsed to ease monetary policy and provide a fiscal stimulus, whereas in the US both steps came early.



Moreover, whereas Japan postponed corporate and bank restructuring for years, in the US private and especially public efforts to restructure assets and firms will start faster and be more aggressive.



Still, given a severe financial crisis, declining home prices, and a credit crunch, the US is facing its longest and deepest recession in decades, dashing any hope of a soft landing for the rest of the world. While a global recession will be averted, a severe growth slowdown will not.



Many European economies are already slowing, with some entering recession. China and Asia are particularly vulnerable, given their trade links to the US. And emerging markets will suffer once the US contraction and global slowdown undermines commodity prices









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How to make money in stock market

If You Started With $200 in January 2006, You Could Have Been Sitting on $9.4 Million by July 13 2007, Thanks To... Wall Street's Most Profitable Stock Strings Revealed AT LAST... Inside:Exclusive details about four stocks set to rise as much as eight times over in the next year. If I don't deliver gains, I'll give you DOUBLE your money back. Just Some of 2007's Amazing Gains in this Explosive Market Sector... Dear Profit-Seeking Reader, In just the next five minutes, I want to show you how you could have turned $200 into $9.4 million in just over 18 months. Sound impossible? It's not! In the last year and a half, one of Wall Street's most profitable 'stock strings' could have turned $200 into $9.4 million. I'll show you how in a second. I'll also show you what four stocks you need to own right now to start your own string of gains (potentially worth millions!) for the rest of 2008. I'm so sure that these stocks could make you a tremendous amount of money... I'm willing to refund you DOUBLE YOUR MONEY if my recommendations do not produce AT LEAST FOUR 100% gains in the next year Does that sound like a fair deal? No one else can make a promise like that. No one. That's how sure I am that you can make money following my recommendations. You see, these 'stock strings' are Wall Street's best-kept secret. Those who know how to play them become insanely rich — and FAST! But the vast majority of investors have NO IDEA what they are, or how to profit... So before you read on, let me warn you... Only a few people will have the insight, intelligence and know-how to make the huge gains I am going to show youin this report. That's because in order to beat the market and make spectacular gains, you have to choose the highest-yielding, fastest-growing and most-ignored stocks in the world. I'm talking about the stocks that are left out of your nightly news reports...that are never featured in The Wall Street Journal or Investor's Business Daily...and that your broker would rather die than tell you about (since he wants them for his own portfolio!). These stocks are where the huge profits can be made month in and month out. They are the same class of stocks that... Gave readers gains of 146% in less than 2 months, 221% in 18 months, 68% in 21 days and 61% in 3 months Helped the finest fund manager of all time quadruple his money in only 4 years (Today, he is a retired billionaire living out his days in the sunny Bahamas!) Formed one of Wall Street's most profitable stock chains ever and could have turned $200 into a potential $9.4 million in just 18 months USA Today, Yahoo Finance, TheStreet.com, Forbes.com and well-known money managers are touting them as the best investment opportunities on the market right now. In fact... Forbes reported in December 2006 that 'Small companies are expected to grow earnings considerably faster than large companies [...] and small 'penny' stocks are likely to remain popular as long as they are delivering superior earnings growth.' And if you are willing to invest in them now, you could make a fortune just like the $9.4 million that could have been made in 2006 - 2007. The key is to recognize these stocks before anyone else does — and to string the gains together over several months — even a year — at a time. This technique is certainly not for everyone. No one can predict the future, and every string of wins ends with a loser. So there is significant risk involved, but the potential for profits is limitless. Of course, we would never recommend rolling all money invested from one play to another. The best thing is to take out winnings as you go, and continue with only as much of the profits as you feel comfortable putting on the line. That way, you keep your core money safe and play with the rest. In fact, if you'll give me just a few minutes, I'll show you how one of Wall Street's most profitable stock strings could have made $9.4 million...starting with just $200. The magic is in knowing what type of stock yields the highest returns. And the great thing is you could have done it with only nine investments! Here's how... Profit Chain Step 1: Invest in an Undiscovered IT and Network Security Company that Racked up 457% Gains in Just 2 WEEKS On Jan. 20, 2006, shares of China Technology Development Group (CTDC:NASDAQ) traded for just $2.18 per share. Most investors had never heard of this tiny company, but CTDC was poised for an amazing run. CTDC is an IT and network security firm based in Hong Kong. The company has less than 70 full-time employees — but in late January 2006 — it was about to see a stock price increase for the record books. CTDC is a good company. It's small, it's growing, and it operates in the hottest technology region in the entire world. In short, this unheard-of company was a solid business — the kind that can make educated individuals like you a lot of money (but you NEVER hear about on TV or in the newspapers). And that lack of coverage is exactly what led a select few investors to enormous profits, while most people had never even heard of CTDC! Between Jan. 20 and Feb. 2, shares rose from $2.18 to $12.15. And it was the first step to turning $200 into $9.4 million. If you invested $200 on Jan. 20, you were sitting on $1,114 by Feb. 2. That's a 457% rise in TWO WEEKS. As impressive as 457% in two weeks is, it is not going to turn $200 into $9.4 million, is it? Well, no. It was only Step One in the profit chain. Now, the safe way to play it would be to pull out your initial investment at some time and roll on the rest. Only the very bold would bet the entire pot, so for the sake of demonstration, let's say you took your initial $200 out of that $1,114. That means you're forwarding $914 in pure profits to the next stock in the profit string. You're playing with house money! Profit Chain Step 2: 1,500% Gains in Less Than 4 Months The day after CTDC's amazing profit run, another small company called NaviSite Inc. (NAVI:NASDAQ) really started to take off. NAVI specializes in hosting and application management for mid-to-large-sized companies. Its roster of software solutions reads like a hot list of all the most current pressing problems in the computing world. On Feb. 3, 2006, NAVI traded for just $1.54 per share. By May 10, it had shot all the way up to $5.45. Had you been stringing together your profits from CTDC, your $914 would've been worth $3,234 in about three and a half months. In about 100 days, you could have grown your money over 1,500% by investing in just TWO of the fastest growing stocks on Wall Street — the ones you NEVER hear about in the mainstream media. But turning $200 into $3,234 is just the beginning. Check out what happened next — Step Three in your quest to turn $200 into $9.4 million...and Step Three in Wall Street's most profitable stock chain. Profit Chain Step 3: This Stock Shot $3,234 All The Way up to $7,688 Step Three in the profit chain was International Assets Holding Corp. (IAAC:NASDAQ). IAAC is a financial services company that focuses on international markets. It has great earnings and shows enormous potential for future growth. But here's the thing — on May 11, 2006, the day IAAC started its amazing run, no one knew what IAAC was, and very few investors were able to capitalize. On May 11, IAAC traded at a relatively puny $11.90 per share. Less than four months later, the share price had more than doubled, to a healthy $28.29 per share. That was good enough to turn your $3,234 into a robust $7,688. And the profits through the first three steps are just the beginning. Because this profit string was just getting started... In Less Than 8 Months, You Could Have Turned $200 Into Over $7,600! Starting with ONLY $200, if you had managed to get in on those three plays at the right time, you could have been sitting on $7,688 in pure profits in just eight months! $400 to start would've had you sitting pretty at $15,376. $1,000 to begin with, all the way back at Step One — and you'd be counting the dough with $38,440 in profits. But those are hypothetical starting amounts. What I'm demonstrating here is how as little as $200 could turn into $9.4 million. Talk about a profit chain! And all you had to do was... Recognize the ignored stocks set to soar and... Take your gains from the previous month and reinvest them in the next highflying stock. That's it! Well, actually there was another step. When you finally decided to end the string, you had to collect your big check and deposit it into your savings account. If you chose to end the string of gains after investing in only the three stocks I just showed you, you could have turned $200 into $7,688. Not too shabby. But in a second, I'll show how anyone with a steel stomach and amazing timing could have turned that $7,688 into over $9.4 million by mid-July 2007. Sounds crazy, doesn't it? I know. But the only reason it sounds crazy is because you never hear about these stocks in the mainstream press. NEVER. So you are not used to these amazing gains. Think about it... If you knew about these stocks, your broker would lose his business. You wouldn't want to buy shares of GE, IBM and eBay from him. You'd close your account and make your own fortune — without all the pesky fees. No broker wants that. If everyone knew about these stocks, Wall Street could crumble. And I don't expect that to happen anytime soon. You see, most people don't have the guts to invest in these stocks. Since they don't know much about them, they ignore 'em. And it's too bad... The best investors of all time have built their fortunes buying these very kinds of stocks. In fact, the most successful money manager of the 20th century got his start by investing in stocks just like CTDC, NAVI and IAAC. And he quadrupled his money in four years! I'll tell you all about his story — and how you can make similar gains in this market. But first, let me ask you a question... Are you beginning to see how $200 could transform into $9.4 million if you were brave and savvy enough to invest in the right stocks at the right time...and strung those gains out over several months? Thousands of Undiscovered Companies Waiting for You Right Now There are thousands of undiscovered companies that trade on the NYSE, Nasdaq and Amex every day. Many of them have growing sales and earnings, low debt, lots of cash and incredible products. And those are the companies that make investors rich every month. They are companies like China Technology Development Group (CTDC), NaviSite Inc. (NAVI), and International Assets Holding Corp. (IAAC) — three stocks that could have turned $200 into over $7,600 in less than eight months! And folks, these high-rising stocks aren't rare. They are very common, in fact. In 2007 alone, here are just a few of the companies that saw astounding gains: Just a Few of 2007's Biggest Stock Gainers so Far! And there are many, many stocks like these (including the nine stocks I'll show you in a minute) that could have turned your $7,688 into $9.4 million! But before I get to those, I want you to know... You could have made a LOT more than $9.4 million last year.You see, there are FAR more high-rising stocks than the ones I am showing you in this report. But it would take hours for me to list all of them. And by now, I think you get the point. An investor with the knowledge, insight and fortitude to invest in the right stocks at the right time could make a fortune. And that is exactly why I am willing to offer you the best deal I've ever offered. If you give my research service a try today and my string of recommendations does not deliver at least four 100% gains in my track record in the next year, I'll pay you back DOUBLE what it costs to join. All you have to do is ask. Simple as that. If my analysis does not deliver gains, I'll send you a check for exactly TWICE what you sent in. Sounds like a fair bet, doesn't it? If you're willing, I can show you how the best investors of all time made a lot of money. And get you on the road to joining them...completely risk-free. From $200 to $9.4 Million in Just Over 18 Months For instance, using a hypothetical example, I just showed you how you could have turned $200 into $7,688 — in only three steps on the profit chain. Let's take that example to its gutsy, but logical extreme. Pretend you could have kept the profit chain going all year long. I'll show you how you could have turned that $7,688 into $9.4 million by mid-July in 2007 with only SIX more stocks. If you had managed to invest in one highflying stock after another — taken your gains and invested in the next highflier — just like I showed you with CTDC, NAVI and IAAC — in just about 18 months, you could have turned $200 into $7,688…then into $9.4 million. Check it out... Starting in January 2006 and ending in mid-July 2007, it was possible to turn $200 into over $9.4 million by investing in the right stocks, cashing out and reinvesting your winnings in the next stock on the profit chain! Of course, you couldn't have done it investing in General Electric, IBM, Intel, Cisco or any other large stock your broker tried to push off on you. You had to have the proper guidance and intelligence to put your money where no one else was...and you had to decide whether to do the safe thing and take some winnings out early — or take a chance by rolling your winnings into the next play. Of course, I can't promise you will turn $200 into $9.4 million this year by following my recommendations. What I showed was an extreme example of how powerful penny stocks can be. It took tremendous timing and a lot of luck to turn $200 into $9.4 million. But those who kept up the string could have walked away millionaires in a year. And if you stay with me, I'll show you what four stocks you need to own now to start your own stunning chain of winning stock picks. Remember, you need only $200 to get started. Penny Stocks Beat the Pants off of Large-Cap Stocks Year in and Year Out The best-performing stocks on the market are companies with tons of cash...groundbreaking products...and growing businesses — the same stocks that have proven to be the BEST investments over the last century. The one thing that makes these stocks different is...they're still small enough to make them affordable for small investors to make a grab for their share of the profits! Since 1926, no other class of stock has made investors more money than these penny stocks. Let me repeat that... Over the last 80 years, NO group of stocks has made investors more money than penny stocks. Not mid caps, not large caps, not gold stocks and not retail stocks. In fact, a famous study done in 1996 by Ibbotson Associates — a major research firm based in Chicago — proved this once and for all. After compiling cold, hard data on small- and large-cap stock returns from 1926-1996, Ibbotson Associates proved that small-cap penny stocks outperform large caps... 56% of the time in any given 1-year period 66.1% of the time if you hold for 10 years 94.2% of the time if you hold for 20 years 100% of the time if you are willing to hold for 33 years or more! In other words, investors who buy shares of the smallest companies on the market beat those who buy stock in companies like Microsoft, GE, IBM, Intel and Cisco. That's exactly why everyone generates the same returns year in and year out. It's ridiculous! But what investors don't realize is... · There are 3 times more small-cap stocks than large caps on Wall Street right now. That means you have 3 times as many opportunities to make huge gains every month — like the 146%and 221% gains Penny Stock Fortunes readers could have made The longer you are willing to hold solid small-cap stocks, the more money you can make. Check it out... $1,000 Turned Into $3.96 Million Anyone who invested $1,000 in a basket of small-cap stocks in 1926 could have cashed out for $3.96 million by 2000. By comparison, a $1,000 investment in a basket of large-cap stocks in 1926 grew to only $1.76 million by 2000. Translation... Over time, people who buy and hold small-cap stocks give themselves the chance to walk away MUCH richer than those who follow the Wall Street herd and invest in the same old large-cap stocks. I'm talking $2.2 million richer! In fact, the most famous money manager of all time (now a retired billionaire living out his days in the sunny Bahamas!) made his first fortune following the same advice I am sharing with you now. Here's How He Turned $10,000 Into $40,000 in 4 Years John Templeton is the most successful money manager of the 20th century — and probably of all time. In 1954, he founded his flagship Templeton Growth Fund — one of the highest-yielding funds of the modern era. Every $100,000 invested into John's fund was worth $55 million by 1999. That's an annual rate of return of 12.2%. To put that in perspective for you... If you put $100,000 in Microsoft in 1986 — arguably the best single investment opportunity of the last 100 years — you would be sitting on $22.9 million today. That's less than HALF what the Templeton fund yielded investors! And in 1992, John sold his entire group of funds — worth $25 billion — to Franklin Resources Inc. for $440 million. Today, he is living a life of luxury in Nassau, in the Bahamas. Think he was just a rich kid who got richer as he got older? Think again...John Templeton wasn't born rich. In fact, he was born on Nov. 29, 1912, in Winchester, Tenn. — a small town only miles from where the famous Scopes Monkey Trial took place. After graduating first in his class at Yale (which he put himself through by working three jobs), Templeton took a job on Wall Street. He loved stocks, numbers and the promise of big returns. And he knew he could make a fortune investing in the most lucrative stocks of all time — small-cap 'penny' stocks. By 1939, just five years out of school, John saw his opening. Problem was, he had no money to act on his knowledge. But that wasn't going to stop the young farmer from Tennessee. In a move slated for the Investment Hall of Fame, John went to his boss and begged for a $10,000 loan. Remember, this was 1939 — 10 years after the start of the Great Depression. The Dow Jones was down 73% from its high in 1929. And most people were petrified to invest in any stocks — let alone small caps. Plus, $10,000 was a lot of money — the equivalent of $135,899 today. But John's boss knew there was something special about this kid. He studied the markets like a bloodhound looking for a faint scent in the woods. And when he found it, the gains were sure to follow. So he gave John the loan — all $10,000. It proved to be the best move he ever made. Templeton took the money and invested it equally in every single small-cap stock trading on a major exchange for $1 or less. There were 100 stocks, all told. He was betting these stocks would lead the way out of the Depression. And, boy, he was right. Between 1939-1943, John's investment grew from $10,000 to $40,000 — despite four of the companies going bankrupt and losing everything! Today, Mr. Templeton is retired, living in the Bahamas. His net worth is an estimated $2 BILLION. He owes his fortune to that day he went in, hat in hand, to borrow the money from his boss...and took a calculated gamble on the fiery strength of small companies and their will to survive in tough markets. Today, I'm offering you a similar shot...speculating on the very fiber of America's future leaders. With the right guidance, you could achieve similar results. In fact, I am so confident of these stocks' effectiveness, I'm willing to make you the best offer of my entire career. If you give my research service a try today, I will give you an unbeatable offer... If you aren't 100% satisfied with the results, all you have to do is say so. If my system does not yield the opportunity for four 100% winners in my track record in the next year, I'll send you DOUBLE WHAT YOU PAID. All you have to do is ask. Simple as that. No one else can afford to make that kind of an offer. But there's a simple reason for that. I know something no one else does... These stocks were good enough to help John Templeton quadruple his money after the Great Depression. They have been proven to be the most lucrative stocks to own over long periods of time. And I have NO doubt they will help you make a pretty penny in this market! Sign up today, and I'll give you ALL the details you need to start your own profit chain in 2008. I can't promise you'll have a chance to make $9.4 million like last year. That was one of the best runs of all time, and it took tremendous timing and a lot of luck. What I showed you was an extreme example of how powerful penny stocks can be. But the market is still ripe for huge gains. Even the mainstream press knows that! What The Press is Saying About The Small-Cap Penny Stock Market "Small companies offer individual investors like us many other advantages. Most institutional investors, who have billions of dollars to allocate, must avoid small caps — at least until they grow larger. That makes small caps underfollowed and increases the chances that they're misvalued.' -The Motley Fool "Running a portfolio that targets some of the market's smallest stocks allows [investors] to buy growth opportunities, often in overlooked areas, and ride them before the rest of the market piles on.' -MarketWatch.com "Managers who own shares [of their own company] stand to reap a bigger benefit from a firm's success, which results in a big increase in share price [for small caps].' -Money.CNN.com The ONLY Major Group of Stocks to Beat Its 2000 Highs! Not only are penny stocks making headlines. Since 1999, penny stocks have blown their large-cap peers out of the water. The Russell 2000 (known as the "small-cap index" on Wall Street) pummeled the S&P 500 by 200% in 2000, 17% in 2001, 3% in 2002, 90% in 2003 and 77% in 2004. In fact...since the summer of 2004 alone, the Russell is up 37%. The small-cap index was the ONLY major stock index to not only reach its 2000 highs (during the height of the last bull market), but also pass them. Small-cap stocks are making smart investors with the insight and intelligence to go after them a lot of money. And they are doing so at a record-breaking pace. In fact, readers have seen gains of: 87.5% on shares of little-known Alloy Inc.- a "Generation Y" marketing company 56.6% on shares of DURECT Corp. - a small pharmaceutical company 19.82% on leather maker Wilsons 25.2% on Salton Inc - maker of the popular Foreman grill. And they also could have walked away with additional gains of 20%, 22.4% and 10% on, DURECT, Salton and Wilsons — again. But that's nothing. In a second, I'll show you a real-life string of gains that helped readers make 233%, 146.7%, 62.35%, 34.81%, 34.94%, 35.2%, 32.19% and more over a span of six months. In fact, from June - September 2003, EVERY single small-cap recommendation my publication closed out was a winner. Putting only $200 into each stock, you would have been sitting on a possible $3,051.06. And you have a chance to do the same thing NOW! Before I show you this profit chain, let me introduce myself...please read on... If I Put My Name on Something, It Must Be the BEST My name is Greg Guenthner. I am the editor of Penny Stock Fortunes — the single greatest penny-stock newsletter on the market today. And I can say that knowing it's 100% true. I have spent time in newsrooms up and down the East Coast, and I bring a reporter's eye and skepticism to every stock I research. I'm not looking for fly-by-night stocks that might give your portfolio a tiny boost. I travel whenever necessary, meet with CEOs, pore over financial filings and take part in conference calls so I can uncover only the best small-cap stocks that'll put money in your pocket for years to come. I also evaluate stocks using my proprietary CXS Money Multiplier System. It's a complicated screen I perfected after reviewing the fundamentals and prospects of several of the most successful small-cap stocks in history. The CXS System is my most important tool in determining whether or not a stock is worth recommending. I rely on it in every single issue of Penny Stock Fortunes. The great thing about the CXS System is that it isn't subject to fads in investing. Hot ideas of the month and wildcard stocks with no fundamental strengths are rejected by CXS just like all the other garbage stocks out there. You can always count on Penny Stock Fortunes to bring you only the very best picks from the world of penny stocks. My peers are best-selling authors in the investment world, CEOs of major businesses and traders that have made millions on Wall Street. And I don't say that to brag. Rather, I want you to know... If I put my name on any investment letter, it MUST be the best. And Penny Stock Fortunes is. In years past, Penny Stock Fortunes readers have had the chance to rake in gains like these... If you had put only $200 into each one, you would be sitting on $7,822.40 today. Those are some pretty nice gains — and they are only a few of what readers have seen through the years. There have been more — lots more! And there WILL be more in the future. Because there are new blockbuster opportunities every day! Every month, I highlight at least two penny stock opportunities for you. I tell you what the risks and rewards are. And I give you ALL the information you need to make an informed buy decision. I even let you know when to take your gains and get out — with detailed and reasoned sell recommendations. It couldn't be any simpler...or more potentially profitable. Check out what some of our Penny Stock Fortunes readers have said... I've Made More Money With You Than the More Expensive Services 'I depend on the recommendations of Penny Stock Fortunes, plus some research for peace of mind. I am not a rocket scientist in the area of investing and cannot afford huge chunks of change for stock. I only wish I had signed up sooner for the service. I respect what you do. I've made more money with this service than any of the other more expensive services out there." -Best Regards, Peggy B. 879% Return! "A lot of talk about patience and holding onto a stock for the best returns. I bought (upon your recommendation) [company] stock at 66 cents per share and held it, and in the long run, I watched it go up (over $9) and down, and now it is at $6.50 per share, or an 879% return. Thanks again. Here's hoping that it goes higher still. -Gary 300% and Still Holding! 'Well, I always want/like quick profits. But I decided to try the longer hold on penny stocks. I chose Navarre Corp. You recommended it as a buy at 5.35. I am still holding it at $16.39. A 300%-plus gain!! Just wanted to let you know how right you were and say, THANKS, THANKS, THANKS. " -J. Nolan You Allow My Money to Work for Me! 'Thank you for helping my dreams become a reality by allowing me to make my money work! Believe it or not, you are the only newsletter that I have found I can trust, because you consistently make me money. " -A happy and loyal subscriber, R. Hunt I Love Your Analysis! 'I am very new at trading stocks. In fact, my only experience prior to subscribing to Penny Stock Fortunes has been keeping an occasional eye on my 401(k)-type savings plan that my employer sponsors. I have been subscribing since August, and I love your analysis as well as your delivery. I have been able to profit 18.5% and 26.8% after commissions on Salton, Inc and Durect Corp. already! -B. Frazier What a Great Trip That Was! 'Just to let you know, I bought Coeur d'Alene Mines Co. at $1.33 and recently sold it at $5.29. What a great trip that was. Thanks for your expertise. -M.L. Thornburg Reaped Many Rewards 'I've been impressed by the results of the system and reaped many rewards. Your system has helped steer me in the right direction and prepare the foundation for a profitable future." - T.K., Satisfied PSF Subscriber Those are some pretty powerful testimonials. And it goes to show how you can make a lot of money if you are willing to invest in the right penny stocks. In a moment, I'll give you all the details you need to know to invest in the four hottest stocks on the market right now — the four stocks that could start your own profitable stock string and turn $200 into $9.4 million in 2008. And if you take advantage of my 200% money-back guarantee today and sign up for Penny Stock Fortunes, you could begin booking the gains in just a few hours — literally. How so? Let's take a look... I want to prove to you that my research service is the best in the world, so I'm going to give you four penny stock picks that could easily double your money...or more. When you sign up for your risk-free trial to Penny Stock Fortunes, you'll get all the details on these four barnburner stocks in my groundbreaking report Four Penny Stocks You Need to Own. Here's a sampling of what you will find... Barnburner Stock No. 1:Millions of shares of this small company were just snapped up by legendary investor George Soros. This company that has him so excited is a leader in a specific kind of telecommunications technology poised to return decades of great profits. The company is solidly run, has great financials and will be a welcome addition to your portfolio. Its forecast for the future is one of the brightest you'll find in the entire technology sector. Barnburner Stock No. 2:Ever think about how much that next trip you take will really cost you? Airline travel is a mess right now, and thousands of consumers are turning to a traditional method of travel that's been around for decades. The most intriguing company in this space is one you've almost certainly heard of before, and its profitability numbers, after enduring some hard years, are finally starting to rebound in a big way. The profit potential is enormous. Barnburner Stock No. 3:Through future mergers and mine startups, this junior mining company expects to produce 29 million ounces of silver in 2009. That's more than anyone else in the world. On top of just plain out-producing everyone else, this company will also have the lowest cash cost per ounce of silver in the industry at $1.73 per ounce. So, it's not hard to see that the largest silver producer with the lowest production costs in the world will not stay a junior for too much longer. By 2009, this company should join the ranks of Silver Wheaton Corp. and Pan American Silver Corp. as one of the top silver miners on the planet. The profit potential for early-in investors is amazing! Barnburner Stock No. 4: : Oil exploration and production is hands-down one of the most lucrative businesses to be in. Wouldn't we all have liked to be holding shares of Exxon from decades ago? Well, there's a small oil company out there right now with extensive operations in the states and a strong global presence in places like Asia. If things go as well in the future as they have been lately for this company, we're looking at one of tomorrow's Oil Majors at penny stock prices today! Any one of these four stocks could return four times your money or more. And if just two or three rise, one after another — forming a profitable stock chain — you could walk away VERY rich! Just how rich? Well, that's impossible to forecast. But if it's as good as the profit string Penny Stock Fortunes had in back in 2003, you are in for a treat. I'm reaching all the way back to 2003 to show you these gains, because I want to prove to you just how successful this service has been...for YEARS! Check it out... Nine Winning Stocks in a Row! From June 2003 until Oct. 22, 2003, Penny Stock Fortunes closed out positions in nine stocks. They were all winners. Take a look at what can happen when you hit several winners in a row... Think about these results for a second...In only six months, nine Penny Stock Fortunes picks in a row were winners. Not a loser in the group! This is a real-life chain of gains that you could easily see when you subscribe. And who knows? If you hit everything just right, you could even turn $200 into $9.4 million! So how can you get started in this moneymaking venture? How can you get the names and ticker symbols of my four favorite small-cap stocks for 2008? All you have to do to get in is join me at Penny Stock Fortunes. Take me up on my offer to try out my system risk-free. If my recommendations do not deliver at least four 100% gains in the next year, just let me know and I will gladly refund double you what you paid for the service. A Chance to Make Tons of Money, or I Pay You Penny Stock Fortunes is worth thousands of dollars a year. If, for example, just one of my Four Penny Stocks You Need to Own stocks rises 100%, you could make thousands of dollars right there, depending on your initial stake. Between these and other upcoming opportunities alone, you could see $200 stakes shoot up to princely sums in no time! With the profit potential this high, it wouldn't be unreasonable to ask for $2,000 to join Penny Stock Fortunes. After all, you could make that up on one or two investments — easily. But that's not all... Sign up now, and you'll get the names of my four favorite barnburner stocks — all of which could at least double your money in a heartbeat. The groundbreaking report is called Four Penny Stocks You Need to Own.. Inside this one report, you'll get the hard data on four excellent companies and what simple steps you need to take to start seeing amazing profits! Plus, if you act right now, I'll also throw in two more reports...FOR FREE! My Best Online Discount Brokers Guide will tell you what you need to watch out for when searching for a broker, and how to find a good one. Having the wrong broker can suck profits from even the tidiest of portfolios — but having the right broker will put you on easy street even quicker! Winning With Penny Stockswill give you an insider's look into the world of small-capitalization penny stocks — how they work, how they grow and what you need to do to see the best profits. Investing successfully over the long term with penny stocks is both an art and a science. This report will get you started off on the right foot. So that's four stocks to get you started on your way to earning $9.4 million in 2008 and beyond, plus TWO other exclusive reports. All of a sudden, $2,000 doesn't seem like so much to ask! But don't worry, there's no way in the world I'm going to ask $2,000 for a subscription. In fact, I'm not even going to ask $100! I'm going to offer you my best deal ever. And I mean that. Just keep one thing in mind... I can't guarantee you will turn $200 into $9.4 million this year by following my recommendations. What I showed you was an extreme example of how powerful penny stocks can be. It took tremendous timing and a lot of luck to turn $200 into $9.4 million. But what I can promise you is this... My Ironclad Promise to You Every month, you will receive a full, in-depth report on the two very best penny-stocks on the market. You'll read my in-depth analysis and be able to dissect my CXS Money Multiplier evaluation of every pick. I'll tell you when I think you should buy. I'll tell you what the risks and rewards are. And I'll tell you when to sell. You just sit back, read the e-mails, decide that you are ready and call your broker. I will do all the work for you. And know this... Some of these stocks could double your money. Others could rise 10-fold. And still others could fall. That's OK. These are exactly the kinds of stocks that helped John Templeton quadruple his money in 1939 — despite four companies going completely bankrupt. They are the same kinds of stocks that could have turned $200 into $9.4 million from Jan. 2006 to July 2007. And they are the same kind of stocks that I recommend to my readers — with tremendous success. For instance... Penny Stock Fortunes recommended shares of Select Comfort. At the time, this beaten-up bed manufacturer was trading for $5.61 a pop. Less than five months later, every investor on Wall Street was buying the stock, and it shot up to $9.76 per share · Chinese diesel engine maker, China Yuchai, was also screaming, "BUY." It was trading for less than 10 times earnings. Its sales and net income were soaring. And demand for its diesel engines was sky high. When Penny Stock Fortunes recommended CYD to readers, it was trading for $7.50. Less than two months later, it hit $18.50. That's a 146% gain in 60 days! · Shares of gold and silver miner Coeur d'Alene Mines were once dirt cheap. And with precious metals on the rise, this was a no-brainer. Readers were able to buy shares of CDE for $1.71. Later, they were triggered to sell at $5.49 — a mere 221% gain! A bed maker, a Chinese diesel engine manufacturer and a gold miner...It doesn't matter what kind of company it is — as long as it is a solid business in a growing industry. Those are the kinds of penny stocks you will find in the pages of Penny Stock Fortunes every month. And if you sign up today, you'll take advantage of my best offer ever... Sign up for Penny Stock Fortunes for Only $39! Try Penny Stock Fortunes for one year for the ridiculously low price of only $39. That works out to less than 11 cents per day — the best offer I've ever made! When you sign up, you'll get my three FREE reports with all the details on the four stocks you need to own to start growing your own profitable stock string. Plus, you'll be signed up for the Agora Financial Executive Series...two daily e-letters that give you an insider's view of our editorial room here at Agora Financial. You'll receive the groundbreaking Rude Awakening, which uncovers the latest big-picture trends in politics as well as in the markets, and the 5 Min. Forecast — a daily snapshot of what our editors are saying right now. These respected letters are also yours, FREE! These two daily letters are reserved only for elite, paying members of Agora Financial. And they're yours for FREE with your Penny Stock Fortunes subscription. But that's not all... If you find that my system lets you down, I make you this ironclad promise... If following my system of recommendations does not yield four 100% gains, I will refund you 200% of the subscription price. All you have to do is ask. In other words... Basically, I am assuming ALL the risk. I am betting the house, and then some, that my research service is the best in the world. But you know what? I know Penny Stock Fortunes is the best. I have nearly 80 years of data proving that small-cap stocks are the best investments of all time. I have studied the great investors — guys like Warren Buffett, T. Rowe Price and John Templeton. I know how they made their fortunes. And I can help you make yours. Remember, Templeton invested in small-cap stocks in 1939 and quadrupled his money in four years. And that was right after the Great Depression! After that, he went on to become the most successful money manager of the 20th century. And today he is living out his days in the sunny Bahamas — worth a cool $2 BILLION! You can do the same. Heck, even the mainstream press knows these stocks are the best. Remember... Forbes reported that 'Small companies are expected to grow earnings considerably faster than large companies, and small stocks are likely to remain popular as long as they are delivering superior earnings growth.' The problem is most of those other so-called experts don't have the guts to recommend penny stocks! But I do. And if you join me today, I will — starting with the four best stocks to own right now. But before you sign up, look at what my own readers are saying about Penny Stock Fortunes... I Made over $10,000! "Did great on Coeur d'Alene Mines Co. made over $10,000. Keep up the good work.' -G. Dahl You More than Quadrupled My Money! 'I'm having a ball...Last year, I started with $300 invested...currently, my portfolio is around $1,600...Being an accountant, I understand financials, however, I don't have time to research every stock I come across. You have done that for me.' -A.L. So there you have it. Readers love Penny Stock Fortunes. They have made good money following its recommendations. And I know you will too. All you need to do is sign up. When you do, you will get... 12 monthly issues of Penny Stock Fortunes sent to your home and e-mail box, complete with in-depth analysis and CXS Money Multiplier breakdowns Weekly e-mail alerts telling you exactly when you should buy and sell every stock we recommend A copy of Four Penny Stocks You Need to Own, detailing my four favorite barnburner penny stocks of 2008 — set to rise to amazing new heights My Best Online Discount Brokers Guide to help you find the best broker and the level of service you deserve The groundbreaking Winning With Penny Stocks report that routinely gets rave reviews from members Access to our Penny Stock Fortunes Web site — including all past issues, reports and portfolio holdings FREE subscriptions to the Agora Financial Executive Series — the 5 Min. Forecast and the Rude Awakening — five days a week of the best investment analysis and news on the Internet! But I'll tell you what...since I'm already making the best offer I've ever come up with, I'm going to throw in one more bonus FREE gift. Another Gift to You for Trying Penny Stock Fortunes Because I want you to make as much money as possible in the small-cap market, I will automatically sign you up for the daily e-letter — The Penny Sleuth. With a daily circulation of over 100,000, it's one of the most fearsome and powerful small-cap penny stocks newsletters in existence! Irreverent, Skeptical, Penetrating, In-Your-Face Coverage of the Small-Cap Universe At The Penny Sleuth, , we're tired of the same old story on Wall Street — especially when it comes to the small-cap market. Everyone's a "yes man" these days. Your broker loves any stock that will make him a commission. "Yes, it's a buy." The mainstream analysts do nothing but tout bad stock after bad stock. "Yes, they will rise!" Even your neighbors tell you only about their winners. The best deals aren't found on the surface of Wall Street. They are hidden in the shadows, in the corners and under the rug. Most brokers don't know a thing about them. The Wall Street Journal doesn't cover them at all. And your neighbor doesn't even know they exist. So who knows what secrets lurk in the shadows of the small-cap universe? THE PENNY SLEUTH — YOUR SOURCE FOR THE LATEST MARKET NEWS Sleuthing is about peering into the dark corners of the small-cap market. It's about asking questions no one else is asking and looking off the beaten path for answers. It's about looking at the market with a fresh perspective and at small-cap investing with a fresh approach. Sleuthing is about seeking real insights...and real gains. Every issue of The Penny Sleuth unearths corners of the small-cap market you didn't even know existed. It's a personal window into Wall Street's most profitable hidden treasures of all time. By signing up today for Penny Stock Fortunes, you'll automatically receive Penny Sleuth five days a week, absolutely FREE. What do you have to lose? If you don't love it, you can just cancel — and go back to listening to the same yes men you have been listening to for years. The choice is yours. But you must act now. This offer won't last forever. And remember... If you aren't satisfied with Penny Stock Fortunes or my service to you, or I do not deliver 100% gains in my track record on at least four of my recommendations,just let me know and I'll pay you back 200%! That's how sure I am of this product and these small-cap stocks. No matter what happens, all the free gifts you receive when you join are yours to keep — forever. But with this much profit potential just around the corner, I highly doubt you'll ever cancel Penny Stock Fortunes. I look forward to welcoming you on board. And I can't wait until you see just how powerful these penny stock profit chains can be. I do hope you will find out! Best regards, Greg Guenthner Penny Stock Fortunes March, 2008 P.S. If you sign up today, I'll rush you a copy of your FREE report with the names of the four best penny stocks of 2008, Four Penny Stocks You Need to Own, to get you started on a profitable stock string — just like the one that could have turned $200 into $9.4 million in 2006 - 2007. AND — you'll also have immediate access to all your other FREE gifts as well!

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At last good news:Google Rocks, Sharply Beats the Street

Google (GOOG) this afternoon reported first quarter results that dramatically beat Street expectations, sending the shares soaring in after hours trading.

Google reported revenue of $5.19 billion, or $3.7 billion excluding traffic acquisition costs. Non-GAAP EPS was $4.84 a share. The Street had expected $3.61 billion and $4.52.



Google-owned sites revenue totaled $3.4 billion, up 49% versus last year and 9% sequentially.



Google network revenues were $1.69 billion, up 25% versus last year and 3% sequentially.



International revenues were 51% of total revs, up from 48% in Q4 and 47% a year ago.



Headcount at March 31 was 19,156, up from 16,805 at December 31, an increase of nearly 14%. Of the 2,351 people added, about 1,500 were from DoubleClick.



In after hours trading, GOOG is up $42.64, or 9.5%, to $492.18.



http://seekingalpha.com/article/72774-google-rocks-sharply-beats-the-street













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Hormones 'may fuel market crises'

Hormone surges among City traders could be partly responsible for driving "boom and bust" economics, say researchers.



A Cambridge University team found testosterone levels were directly linked to the profit they made.



The Proceedings of the National Academy of Sciences study also found levels of the stress hormone cortisol could affect the risks they took.



A psychologist who works with investment bankers said it may help explain seemingly irrational behaviour.



The Cambridge study measured testosterone levels in a small group of male City of London traders at both 11am and 4pm, and matched these to the levels of profit or loss recorded for that day.



They found that daily testosterone levels were significantly higher on days when traders made more than their average profit.



They ascribe this to the "winner effect", seen in sportsmen, in which success increases testosterone levels, which in turn increase feelings of confidence and ability to take risks, which then increase the chances of further profits.



However, if repeated too much, they say, the rising testosterone levels could eventually compromise their ability to make rational decisions, as the traders take bigger and bigger risks during so-called "bubbles", where the market rises sharply.



Prof Joe Herbert, one of the study's authors, said: "Our work suggests that these decisions may be biased by emotional and hormonal factors that have not so far been considered in any detail.



"Hormones may be important for determining how well an individual trader performs in the stressful and competitive world of the market."



'Learned helplessness



The researchers also looked at cortisol, which is produced in response to stress, and in the case of traders, extreme volatility in the markets.





Dr John Coates, another of the study's authors, said that while ever-increasing testosterone levels might turn risk-taking into an "addiction", the reverse was true with the stress hormone cortisol, which, in excess, causes people to actively avoid risk, potentially worsening the effects of any downturn.



"In the present credit crisis, traders may feel the noxious effects of chronic cortisol exposure, and end up in a psychological state known as 'learned helplessness'.



"If this happens central banks may lower interest rates only to find that traders still refuse to buy risky assets.



"At times like these, economics has to consider the physiology of investors, not just their rationality."



'In the Zone'



Jeremy Holt, an occupational psychologist who works with investment banks to coach their traders on the psychology of risk-taking, agreed that both scenarios fitted well with his experiences.



"Traders will often talk to me about being 'in the zone' - similar to a sportsman, meaning a feeling of 'unconscious competence', decisiveness and confidence.



"But it's amazing the number of times that traders put in a really good run but then hand a lot of their profits back because they have become over-confident, and didn't just stop when they needed to.



"They often come up with some strange, irrational reasons for doing this."



He added: "On the other hand, in very stressful situations, some traders will just freeze, and not do anything









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