“I firmly believe we will see a double-dip recession within another 18 months (at the most). Stock markets drop on average about 40% in a recession. Adjust your portfolios accordingly.”

— John Mauldin, Thoughts from the Front Line (http://www.frontlinethoughts.com/pdf/mwo101609.pdf)

My Comment:

I find it pretty interesting that John Mauldin, who’s always argued that we’d “muddle through”  somehow (http://www.safehaven.com/article-9542.htm), has now changed his position in view of the facts (an admirable quality). In the latest edition of his very popular and always informative newsletter, Thoughts from the Front Line, he argues that things are much worse than he’d ever anticipated.

I find it even more interesting that Mauldin will be down in Uruguay, speaking to various groups and that he has a partner based in Uruguay. He writes:

“I will be going to South America at the end of next week, to Buenos Aires, Montevideo, Sao Paulo and Rio. I will be speaking in those cities and traveling with my new Latin American partner, Enrique Fynn of Fynn Capital (based in Uruguay).”

He’s not the only one. I’ve noted a number of libertarian (and other) financial advisors down here. A sign of the times.