| Dear Friend, You’ve probably heard of the Barron’s Roundtable. It’s a panel of well-known, reputable investment professionals who every January provide their outlook for the coming year. Not everyone can be a Barron’s knight... as with many things in the upper echelons of finance, you get there only by invitation. One of our speakers at the SIC 2019, Felix Zulauf, held a seat at this prestigious roundtable for 30 years—a testament to his financial and economic acumen. Barron’s wrote about him: “Simply put, Felix, president of Zulauf Asset Management in Baar, Switzerland, always knew—and still knows—better than most how to connect the dots among central bankers’ actions, fiscal policies, currency gyrations, geopolitics, and the price of assets, hard and soft.” Investors like Felix make me glad that my team and I get the chance to invite a lot more people to the Strategic Investment Conference than would fit into the Omni’s conference center in Dallas. The SIC Virtual Pass makes that possible. As a passholder, you get the double benefit of being able to watch the SIC live as it happens—I’ve been told it’s almost as good as being there—and enjoying the recordings at your leisure after the SIC is over. In a recent Barron’s interview, Felix spoke about the “tectonic shifts occurring” and, when prodded about it, said: For one, we have left the world of free markets and entered the world of managed economies. This is a major change in my lifetime. Central banks took over the running of economic policy after the financial crisis and run the show to this day. Also, the globalization movie is starting to run backward. The past 30 years saw the biggest globalization process ever, with the integration of China into the world economy. With today’s trade conflict, that is changing. The alternative is more regionalization of the economy, which could create problems for multinational companies. I certainly want to hear more about this “tectonic shift.” If you do too, I suggest you get your Virtual Pass today and join us at the biggest and best SIC ever. Your eager to navigate economic earthquakes analyst, John Mauldin
Chairman, Mauldin Economics | 