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The Daily Reckoning Weekend Edition Saturday, May 14, 2011 Buenos Aires, Argentina ------------------------------------------------------- Chris Mayer delivers two junior gold miners about to explode, A handful of tips from the greatest investor you've never heard of, Plus, all this past week's reckonings, archived for your convenient hoarding... Joel Bowman, with this week's feature column... "He may be the greatest investor you've never heard of," begins Chris Mayer in ourDaily Reckoning column of the week. "Beginning in 1975, he delivered to his investors a compound annual return of 15.2% for the next 33 years! If you'd put $10,000 with him and left it there, you'd have had $1 million by 2007. Peter Cundill was his name. His investment approach is the subject of a new book by Christopher Risso-Gill, who was a director at Cundill Value Fund for 10 years." In this week's feature column, Chris delves into Risso-Gill's book, uncovering some hard-earned investing tips along the way. For the entire article, please see here. Also, remember that the special offer to join Chris' Mayer's Special Situations ends this weekend. He's got his keen eye on a couple of junior gold miners...one of which is below two bucks...and on it's way to $27. Get the details here. ---------------------------------------------------------- ALSO THIS WEEK in The Daily Reckoning... "There's Always Something to Do" By Chris Mayer Gaithersburg, Maryland He may be the best investor you've never heard of. Freedom, Naturally: A Review of Morris and Linda Tannehill's, The Market for Liberty By Joel Bowman Buenos Aires, Argentina It is at times useful to imagine how a truly laissez-faire society, one entirely emancipated from the shackles of state coercion, might exist and operate. Morris and Linda Tannehill examine this very idea in, The Market for Liberty: Is Government Really Necessary? Generations of Wealth By Bill Bonner Beijing, China Last week, we discussed the real secret of success. As you knew all along, there is no secret. Hard work over a long period of time pays off - just like compound interest does the job on your savings. "Compound Effort Over Time," is how we put it. But we left an intriguing idea dangling... A 1980 copy of Playboy Predicts the Future for Silver By Murray Dawes Melbourne, Australia Last night I lay back on my couch and had a couple of glasses of red, while reading an article from 1980 about the Hunt brothers and the events that surrounded the last spike in Silver to $50. I found the article while surfing the web for financial news so I take no responsibility for the fact the original article was found in Playboy. Everyone reads Playboy for the articles, right? Keeping Capital in a Depression By Doug Casey Buenos Aires, Argentina Nothing is cheap in today's investment world. Because of the trillions of currency units that governments all over the world have created - and are continuing to create - financial assets are grossly overpriced. Stocks, bonds, property, commodities and cash are no bargains. Meanwhile, real wages are slipping rapidly among those who are working, and a large portion of the population is unemployed or underemployed. ------------------------------------------------------- KO's Cancer in 36 Hours! A little-known biotech company is making medical history...but with FDA fast track review status for their cancer treatment, this small company might not stay "little-known" for long... So you must move fast if you want to get in on the ground floor of what could be the biggest medical breakthrough in decades... Click here to learn more now. ------------------------------------------------------- The Weekly Endnote: Some reader mail from the week now past... First up, this, from Reckoner Carpenter: Please forward my congratulations to Mr. Gary D. Barnett on a spectacularly honest andwell-written exposition on the death of Bin Laden and its implications for America's future. It seems everything Mr. Orwell wrote about while I was in high school that we so famously dismissed as fiction has become disgustingly and horribly real. God help our children. And this, from Reckoner Rich: I agree that it is difficult to have inflation with increasing unemployment, falling housing prices and lack of confidence. However, here in Boca things seem to be different. I tried to go to the mall yesterday and could hardly find a parking place. Now, Boca is upscale, so it may be different than Peoria or Detroit, but people are spending money. The fears of a double-dip are far from the majority of the consumers' minds. If we get another leg down, which I think is inevitable, there will be enormous pain because the people here are not expecting it. And finally this thoughtful musing, from Reckoner Shafer: Just before the "largest steel mill ever built in the world" came tumbling down, my film crew spent weeks shooting documentary footage at Sparrows Point, near Dundalk in Baltimore - what an amazing location! Every American citizen and taxpayer should be forced to experience the eerie, haunting, empty silence of this now-dead cathedral of industry. Without too much imagination, you could still smell the sweat, hear the groans of manual laborers shoveling at the mouths of the great Bessemer Burners. Why indeed DO the generational survivors refuse to leave a place whose future is past? I've seen it throughout rust-belt America. Like Civil War enactors, they seem committed to wallowing in a glory that is long gone. As if merely "remembering" is all they want or expect. They refuse to move on to brighter pastures, better opportunities or even re-train their marketable skills. What happened to these "trapped" souls, I wonder? And here am I, 66 years old, enthusiastic about expatriating my native land for a better existence somewhere else. Generations ago, my great grandfather emigrated from famine plagued Germany to frame houses in booming Pennsylvania. During The Great Depression, my grandfather picked up his starving family and pushed westward to North Dakota and became a successful wheat farmer. And now, two generations later, I carry my family's quest for a better life forward. Maybe it's simply a matter of good genetics. One thing's for certain: sovereign governments that rig gigantic "safety nets" actually stifle the class mobility factor Bill Bonner refers to in his excellent post. Such ghost towns are a blight on our society and a disgrace to the human spirit. --- Thanks to everyone who wrote in over the past week. Feel free, should one of these articles tickle your fancy, to repost or forward it to anyone you think might be interested in a little reckoning. And, as always... ..enjoy your weekend. Cheers, Joel Bowman Managing Editor The Daily Reckoning