“The main purpose of the stock market is to make fools of as many men as possible.” – Bernard M. Baruch
Back in the 1980s, subscribers to our Money Forecast Letter asked if we would publish a newsletter that would help them translate our predictions for the economy into actionable investment advice. In 1987, as Adrian Van Eck grew more and more concerned about the potential for a sizable drop in the stock market, he decided the time had come to give his subscribers what they wanted. The very first issue of the Investment Letter warned readers of a coming “time out” in the long-running bull market – giving his readers several months to prepare for the infamous October crash that took most of Wall Street by surprise.
Shortly after its successful launch, Adrian placed the Investment Letter in the hands of a new editor: David C. Jennett. Over the years, David has continued to provide subscribers with timely and accurate investment advice. In 1989, he informed investors that the real estate boom that had defined the latter half of the 1980s was destined to come to an ignoble end. He advised readers to buy gold during the 1990s and warned them in November 1999 that the stock market had become a bubble that must soon pop. Three years later, he advised readers that a new bull market was about to take off. More recently, he advised readers not to lose faith during the financial panic; suggesting they remain fully invested for the rebound in stocks that he was certain was coming. Since 2009, he has urged readers to ignore those who refused to believe the new bull market could last. Those who followed his advice have seen their money double and then double again.