| Dear Friend, I have always prided myself in only inviting speakers to the Strategic Investment Conference that I would like to hear from—and Carmen Reinhart, a brilliant woman and fascinating speaker, definitely fits the bill. If you decide to get your Virtual Pass today, you can watch her live on stage as part of our panel, “Generation-Changing Global Debt: The Unintended Consequences.” We’ll be discussing the crises and market opportunities that could cripple your buying power or multiply it. To give you an idea how amazing Carmen is, let me say this: If you were applying for a position as chief economist at some investment bank and asked me how to create the most impressive CV possible, I would simply recommend you copy hers. She is the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School. She was senior policy advisor and deputy director at the International Monetary Fund (IMF). In the 1980s, she worked as chief economist and vice president at Bear Stearns. She’s on the advisory panel of the New York Fed. She was a member of the Congressional Budget Office’s (CBO) panel of economic advisors. I could go on and on. But she’s probably best known to everyone in the business through her best-selling 2009 book, This Time Is Different: Eight Centuries of Financial Folly, co-authored with Kenneth Rogoff. The book is one of the most instructional I’ve seen on the irrational exuberance that accompanies every debt-driven economy. Easily one of the five most important in the economics world of the last 20 years. As the curve is nearing its inevitable peak, people—including financial and economic pundits who should know better—insist that this time will be different, this time the good times will last forever. We’ve seen how well that worked following the subprime housing craze in the early 2000s, the dot-com euphoria in the 1990s, and many others. The book has been translated into more than 20 languages and won the Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security. What I love most about it is that it never goes out of style. It’s one of those must-read classics that should be mandatory reading at every business school in the country. Every rookie Wall Street analyst should be forced to memorize it before making his or her first trade. So, needless to say, I am very much looking forward to having Carmen as a panelist at the SIC. I hope you’ll join us via your SIC 2019 Virtual Pass. If you sign up now, you can still get it at the early-bird price of $395 (versus $795 after the SIC is over). The other reason you don’t want to wait is that thanks to our popular live stream feature, you can watch the SIC presentations and panels in real time, as they happen. And later, you’ll be able to enjoy them in video and audio format, plus full transcripts and slides (if our panelists use any). Your history is indeed repeating itself analyst, John Mauldin
Chairman, Mauldin Economics | 