Gyroscopic Investing

Just kidding. I thought I would stop by to say hello to my old friends and maybe get flamed by some of the new guys.

I trust everyone is healthy and happy here. Things are good with me.

Glad to hear you're still alive.

That was awesome, thanks for stopping by MT!

I’ve only stayed away because the real world won’t leave me alone. With all of the goofy stuff happening in the last few years, I could easily spend all my time here getting it sorted out.

It sounds like you guys have gotten along okay without me.

MediumTex wrote: ↑Mon Mar 21, 2022 3:36 pm I’ve only stayed away because the real world won’t leave me alone. With all of the goofy stuff happening in the last few years, I could easily spend all my time here getting it sorted out.

It sounds like you guys have gotten along okay without me.

I'm sure some folks here would love to hear more words of wisdom from you, like telling us that PP still works.

Great to hear from you, MediumTex!

Honestly, I think that I am a walking billboard for the real benefit of the PP, which is it allows you to live your life without thinking about or worrying about your investments. I have grown so indifferent to the markets that I will go months without looking at anything related to any of the PP asset classes. It’s not just that I don’t worry about my investments, I don’t even think about my investments. It’s sublime.

I’m sure that there have been countless stress fests over this asset class or that in recent years, but as best I can tell the PP has just plowed its way into the future, grinding forward like a clock in a thunderstorm.

I only share that insight to remind anyone who is interested that resources, time and attention are all limited, and zen-like indifference to one’s investments can free up enormous energy to spend on other pursuits. Note that this is coming from a guy who spent about ten years thinking about the mechanics of the PP on a daily basis, so if anyone just found out about the PP today, I will see you at the monastery sometime in the early 2030s…or maybe sooner.

Every day is a good day.

Xan wrote: ↑Mon Mar 21, 2022 3:50 pm Great to hear from you, MediumTex!

You too!

Does Craig stop in still? I haven’t talked to him in a long time. I can’t believe it’s been 10 years since the book came out. Wow.

Hi MediumTex,

All the best from down under.

PS: This video seemed appropriate
https://vimeo.com/313769282

MediumTex wrote: ↑Mon Mar 21, 2022 4:25 pm

Xan wrote: ↑Mon Mar 21, 2022 3:50 pm
Great to hear from you, MediumTex!

You too!

Does Craig stop in still? I haven’t talked to him in a long time. I can’t believe it’s been 10 years since the book came out. Wow.

It is almost like Harry Browne stopped by!

I joined the forum almost three years and my first action was to contact you privately. That was the last time I saw anything from you...until today!

I do believe that Craig had a few posts one day sometime last year? You could check his messages to verify exactly when it was.

Hope you stay around.

I spent a lot of time in the archives and I read a ton of what you had written in them.

vnatale wrote: ↑Mon Mar 21, 2022 7:38 pm

MediumTex wrote: ↑Mon Mar 21, 2022 4:25 pm

Xan wrote: ↑Mon Mar 21, 2022 3:50 pm Great to hear from you, MediumTex!

You too!

Does Craig stop in still? I haven’t talked to him in a long time. I can’t believe it’s been 10 years since the book came out. Wow.

It is almost like Harry Browne stopped by!

Such a nice thing to say, but the PP makes anyone look smart when compared to the witch doctors who pass as investment experts.

Stumbling across the strategy shortly after Harry Browne passed away was just dumb luck on my part, but I’m so glad I did because it has been one of the most interesting intellectual mining operations I’ve been involved with.

The fact that the strategy attracts such an interesting bunch of people is a wholly unanticipated bonus, like finding diamonds while looking for gold.

MediumTex wrote: ↑Mon Mar 21, 2022 8:41 pm

vnatale wrote: ↑Mon Mar 21, 2022 7:38 pm

MediumTex wrote: ↑Mon Mar 21, 2022 4:25 pm

Xan wrote: ↑Mon Mar 21, 2022 3:50 pm
Great to hear from you, MediumTex!

You too!

Does Craig stop in still? I haven’t talked to him in a long time. I can’t believe it’s been 10 years since the book came out. Wow.

It is almost like Harry Browne stopped by!

Such a nice thing to say, but the PP makes anyone look smart when compared to the witch doctors who pass as investment experts.

Stumbling across the strategy shortly after Harry Browne passed away was just dumb luck on my part, but I’m so glad I did because it has been one of the most interesting intellectual mining operations I’ve been involved with.

The fact that the strategy attracts such an interesting bunch of people is a wholly unanticipated bonus, like finding diamonds while looking for gold.

For certain!

What are recent items of discussion/dispute here?

Was a final determination made at some point about whether Donald Trump is an idiot or a savant?

Is there still discussion about whether the PP “works,” or if it works whether it’s about to stop working?

To me, there are so many dumb ideas floating around in the ether right now that it’s hard to know where to even start in making sense of things.

As far as your question about hot topics. A big one is whether long term treasuries can still be an effective deflation hedge. And how tough it is to hold so much money in cash / LTT’s with 7+ percent inflation.

On a personal note I just gave a friend my copy of your book and told him this will completely change the way you think about investing. And I also said - do not get rid of the book because I want it back.

MediumTex wrote: ↑Mon Mar 21, 2022 9:45 pm
What are recent items of discussion/dispute here?

Was a final determination made at some point about whether Donald Trump is an idiot or a savant?

Is there still discussion about whether the PP “works,” or if it works whether it’s about to stop working?

To me, there are so many dumb ideas floating around in the ether right now that it’s hard to know where to even start in making sense of things.

To answer your two questions.

First one - I'd say the overall leaning here is that Donald Trump was a net positive and I'm sure he got the majority of the votes here in the 2020 election.

Second one - Some of the first, a lot of the second.

MediumTex wrote: ↑Mon Mar 21, 2022 9:45 pm What are recent items of discussion/dispute here?

Recently, I think its the dispute whether the rising rates are the ultimate PP kryptonite.. or it can still survive in that new 'context' ..

MediumTex wrote: ↑Mon Mar 21, 2022 9:45 pm Was a final determination made at some point about whether Donald Trump is an idiot or a savant?

Not sure about the determination, but sure that there were quite some worthy members that left the forum in the last 2 years (since I am reading) due to the overheated discussions around politics..

Cheers from Bulgaria (you have small, but affectionate group of followers here )

Oh damn, i missed this thread yesterday. I miss the jokes about chaps and your rug cleaning business on the side, MT.
Not much has changed. Gold and long bonds are still the whipping boys.

dualstow wrote: ↑Tue Mar 22, 2022 8:02 am I miss the jokes about chaps and your rug cleaning business on the side, MT.

I thought MT's side gig was as a traveling notary!

Maybe both?

vnatale wrote: ↑Tue Mar 22, 2022 7:08 am

MediumTex wrote: ↑Mon Mar 21, 2022 9:45 pm What are recent items of discussion/dispute here?

Was a final determination made at some point about whether Donald Trump is an idiot or a savant?

To answer your two questions.

First one - I'd say the overall leaning here is that Donald Trump was a net positive and I'm sure he got the majority of the votes here in the 2020 election.

Second one - Some of the first, a lot of the second.

I don't think that answers the first question. Trump might have been a net positive (especially if the question is "compared to Pres Clinton part 2"), might have gotten the majority of the votes here, and still be an idiot. Further: people could think he's largely an idiot and still vote for him.


The harrowing 2020 election cycle led to the creation of a Politics section, as well as the ability to opt out of both the Politics and Other Discussions sections.

Even so, in the aftermath of the election, some long-time posters made an exit, often involving name changes and/or deletion of posts. A couple more were prevented from posting anymore. We seem to be trucking along.

dualstow wrote: ↑Tue Mar 22, 2022 8:31 amMaybe both?

barrett wrote: ↑Tue Mar 22, 2022 8:26 am

dualstow wrote: ↑Tue Mar 22, 2022 8:02 am I miss the jokes about chaps and your rug cleaning business on the side, MT.

I thought MT's side gig was as a traveling notary!

Story I hurd was 'at ol' Tex wouldn't notarize anything until you let he-yem clean up yo' rug fust. Course that was win long bond yields wus higher 'n now.

I am no longer a notary, but who knows what the future holds.

I am still doing carpet cleaning part-time, and after 14 years at it it is still one of the most rewarding things I’ve ever done. I get paid to exercise and listen to podcasts, and I do things exactly the way I want to do them. Any chance to be at one with a task should be embraced, regardless of the task.

I woke up over a series of days and found that practicing law had completely lost any meaning for me, so I stopped trafficking in abstractions…and I now sell boats and RVs, which I find to be tremendously interesting and rewarding. The key is to understand that you sell the experience, not the product. As a lifelong camper, every day feels like a new trip to a slightly different place. As with the carpet cleaning, I feel like I am getting paid to do something that I enjoy doing and something that doesn’t put my soul to the grindstone.

(I actually feel like I am retired, but I don’t advertise it.)

My wife thinks I am crazy, but my sons think I’m a badass.

Long term treasuries have been carrying their weight and more since 2007 when people really started hating them, so I guess the world is full of surprises. We will get a secular bear market in treasuries at some point, and gold will probably wake up at that point and do its job then, but who knows when that will be?

I still see a world with strong deflationary forces tied to increasing productivity and unfavorable demographics in the developed world, so inflation is something to think about, but I suspect the current inflation narrative will be transitory. At some point people will run out of money to pay higher prices and the economy will go into recession, pushing prices down. I may be wrong, of course.

The real estate market is a real head scratcher. I sense that the current mania won’t end well, but it’s fun while it lasts. As someone who owns three houses right now, things could be worse.

I’m 51 years old now, but I try to meet each day with the same sense of wonder and opportunity that I did when I was 21. Staying young is both art and science. As Wayne Newton says, you’re only as old as the body you feel.

Very interesting update! I think that’s normal that your wife thinks you’re crazy, but it sounds like she accepts your choices. Good for you!
You asked if Craig stops by. I think the last time was when you stopped by as well. Maybe one one other time.

dualstow wrote: ↑Tue Mar 22, 2022 11:04 am Very interesting update! I think that’s normal that your wife thinks you’re crazy, but it sounds like she accepts your choices. Good for you!

Life should not be a pie eating contest with a first prize of more pie. Declaring that you are done eating pie can be a revolutionary act.

You asked if Craig stops by. I think the last time was when you stopped by as well. Maybe one one other time.

I’m sure Craig is having all sorts of interesting adventures.

MediumTex wrote: ↑Tue Mar 22, 2022 11:19 am Life should not be a pie eating contest with a first prize of more pie.
...

A new classic.
Coincidentally, I baked an Australian meat pie last night. I think I'm done eating (literal) pie for the time being.