| Dear Reader, 2020 has truly taken us for a spin. But as tough as this year’s events have been on our social and family life and physical health, they didn’t negatively affect the stock market. In fact, for many investors, this year has been a banner year for their portfolio. We’ve received positive feedback from subscribers who praised the guidance and analysis the Mauldin Economics editors have been providing, like these: “Jared provides a viewpoint that is always fresh and a bit more than slightly off of the mainstream BS. His is generally on target. I have recommended Jared to others. Jared is real. Jared is fresh. Jared tells the why of what’s happening.” ‒R.L. “[Just] wanted to pass on my appreciation for [Robert’s] work. The ‘insurance policy’ of out-the-money SPY puts has worked its magic. My account is actually AHEAD during this time of craziness.” –M.C. “Chris Wood has become my favorite stock advisor. I have invested 5% of my portfolio in Healthy Returns and have a 20% return in a few months. (...) Thanks, Chris! He does a great job of explaining his recommendations.” –P.B. If you become an Alpha Society member today, you’ll get all of their research, for life. If you’ve been around the block a few times, you know that investing is not always a rational matter. Quite the contrary: “Mr. Market” is easily swayed by perceptions, expectations, and fears. It’s great to be surrounded by a team of level-headed professionals with deep insights into the hows and whys of the markets. Making informed decisions is just part of what it means to be an Alpha Society member. It also means you become one of our most privileged subscribers. Every year, we offer special events and perks exclusively for Alpha Society members. The biggest bonus for new members this season is your complimentary ticket to the Strategic Investment Conference 2021. We’ve received a lot of praise for our SIC 2020, which we held as a virtual conference in May when we realized there’d be no in-person gathering. Our more than 40 speakers were just as elated as our attendees to get a chance to be part of this event. It was our most successful SIC ever, with thousands of Mauldin Economics readers attending the five-day online conference... and the feedback was overwhelmingly positive. I think the next one will be even better. Tickets for the SIC 2021 are valued at $795 apiece, and one is included in your Alpha Society membership. There’s so much more. For example, as an Alpha Society member, you will get closer to me and our editors and analysts than any other reader. Visit the Alpha Council, a members-only social media platform, to directly interact with fellow members and our team. You’ll also be a part of our quarterly live video calls where you get a chance to ask questions in real time. On the last call, held early this month, Mauldin Economics Publisher Ed D’Agostino interviewed Jared Dillian and my friend Peter Boockvar on inflation. A video of that timely interview is available to view immediately when you join. And the next members-only call isn’t far off. I’d like to invite you today to become a part of our most exclusive club. And so you can be sure you’ve made the right choice, we’re extending a 30-day money-back guarantee. I hope we’ll ring in 2021 together! Your optimistic for the next year analyst, 
John Mauldin
Co-Founder, Mauldin Economics | 