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Doug Casey Speaks in Punta del Este, Uruguay

Doug Casey, of Casey Research, spoke to the Uruguay Phyle, a Uruguay expat gathering, on Sunday November 21st in Punta del Este, Uruguay.

Doug Casey is a free-market economist, speculator, and bestselling financial author. His first book, Crisis Investing, published in 1979, is the largest selling financial book in history. He is the founder of Casey Research, an investment newsletter company with a staff that, as well as economists and financial analysts, includes geologists, and experts in the areas of precious metals, energy, and technology. He has visited175 countries during his career of locating the world’s best speculative opportunities.

The Uruguay Phyle provides a forum where expats living in Uruguay can trade notes and explore ways to cooperate. The group of approximately 50 gathered in a private home in Punta del Este to hear Mr. Casey speak.

In his talk, Doug Casey shared a few basic economic principles and perspectives on current global economic trends. One of the economic principles he shared is that debt is the opposite of saving. Saving creates wealth for the future, and debt, which must be repaid with interest, takes wealth away from the future.

He also expressed the opinion that gold is becoming a more secure store of wealth than the euro or the US dollar. His financial advice to the man or woman on the street is to generate income with a business you understand and then to speculate.

Mr. Casey predicts that Asia will continue to do well economically while the USA and Western Europe will experience further economic hardships. His favorite places to spend time in Asia are Japan and Thailand.

He personally likes Argentina and Uruguay and is currently a partner in a 1500 acre “wine and golf” resort development in Argentina, called La Estancia de Cafayate, where he plans to settle.

When Doug Casey speaks, his manner is easy going, his points are well thought out, and he doesn’t pass up an opportunity to be politically incorrect or provocative.

I first learned of Doug Casey and Casey Research a few years ago. Several of the new expats I was meeting in Uruguay, at that time, were affiliated with Casey Research, or were Casey Research newsletter subscribers.

What grabbed my attention was that these “Casey Research” investors were making large positive gains at a time when the vast majority of investors were experiencing loses. One of Casey’s investment strategies is to identify and profit from politically caused distortions in the economy.

In addition to their subscription newsletters, Casey Research has free publications that can be ordered at: http://www.caseyresearch.com/free-publications/


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