Martin Kronicle

According to Newsweek, Canadian economist Jeff Rubin “has a somewhat oracular reputation.” Oracular – in this context, means that you have to sit up straight and listen closely to what Rubin has to say.

Since 2000, he has predicted a massive oil-price spike, and he was among the first in 2007 to prophesy that oil would soar over $100 per barrel (a few months later, he said $150 a barrel and was basically proved right again). Now, even though oil has dropped considerably from its peak, Rubin warns that it’s bound to skyrocket once more and cause another, even greater economic crisis.

Elaine Garzarelli predicted the crash in ‘87 and was touted as a guru. She hasn’t predicted much since, and when she did, she was wrong.

Marty Zweig made such predictions about the ‘87 crash also. He was a bear throughout the raging bull market of the 90s as the market was going parabolic. In fairness, he got ripped off. He wasn’t right even under the “broken clock is right twice a day” manner.

Warren Buffett can’t trade to save his ass, but he’s sure as hell rich – and oracular. Luck has been his dance partner more times than his prescience, yet everyone still wants to believe there is a guru. He’s lost on currency, commodity, and stock index trades. He talks out of both sides of his mouth about OTC derivatives, yet the “faithful” only hear what they want to hear.

Which brings me back to Rubin. If you’re of the faithful in this case, trade with protective stops. Be proactive and trade in and out of risk. Don’t let some alleged oracle’s headlines or sound bites determine your risk management system.

Seems a group of scientists have figured out what the casinos in AC and Vegas have known all along:

“Not only have we seen that our rats will gamble, but we’ve also been able to modulate that behaviour,” lead author Catharine Winstanley from the University of British Columbia told BBC News.

You can read a great scientific study on human behaviour by Jonah Lehrer called How We Decide. Probably the best book I’ve read since Market Wizards.

Jim Rogers

Jim Rogers speaks with Michael Martin about the bailouts, Ch-India, oil, and hyperinflation. His book, A Gift to My Children: A Father’s Lessons for Life and Investing was released on April 28.

Jim Rogers Podcast

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As was reported on CNN, it is rare for Iran’s political leaders to publicly attack each other. But the elections this year have taken an energetic turn. Last week, Iranians watched a series of live televised presidential debates. How Iran has Presidential debates and India, the worlds largest Democracy doesn’t, is beyond me.

The unprecedented drama that has gripped Iran on the eve of its national election on June 12 continued yesterday. This time, one of Iran’s senior-most politicians accused hardline President Mahmoud Ahmadinejad of “lies and distortions.”

We reported during MartinKronicle TV Episode 3 that Ahmadinejad might be toast if former President Akbar Hashemi Rafsanjani decided to step out and campaign against him. Yesterday, Rafsanjani said Ahmadinejad’s “baseless and irresponsible” statements brought back “bitter memories” of anti-revolutionary groups in the aftermath of Iran’s 1979 Islamic revolution.

Rafsanjani has a moderate stance towards the West. Things are rotten in the state of Iran, if you’re Ahmadeinejad…