Porter Stansberry

Here’s what wikipedia says about Porter Stansberry:

Frank Porter Stansberry, is an American conservative subscription-based investment advisor and the creator of the 2011 online video and infomercial entitled “End of America”.In 1999 he founded Stansberry & Associates Investment Research, a private publishing company based in Baltimore, Maryland. He is currently the editor of Agora Inc.’s internet financial newsletter ‘Porter Stansberry’s Investment Advisory’, and the weekly trading service, ‘Porter Stansberry’s Put Strategy Report’.

Stansberry is critical of the performance of President Barack Obama. He estimates national debt at 56 trillion dollars, and accuses Obama of exacerbating the situation with reckless spending. He predicts financial ruin for America and states that at that point even Obama’s proponents will reconsider their past support.

In an August 2011 online debate with James Altucher, Stansberry predicted that Europe’s debt crisis will only intensify in the coming year, with Italy’s Unicredit being “the next big domino to fall.”Stansberry predicts that once Unicredit falls, Germany will not bail them out, and that in fact Germany will leave the European Union within the next twelve months (by August 2012). Additionally, Stansberry predicts that the U.S. Dollar will lose its reserve status and the U.S Treasury “bubble” will burst.As a result of these oncoming financial calamities, Stansberry recommends that investors convert their assets to 50% gold and 50% cash, if they’re not willing (or able) to actively short stocks.

Personally I don’t know anything about Porter or his record.In fact I had to look him up in wikipedia after tumbling onto his website.Here is the link: http://www.stansberryresearch.com/. I can’t recommend buying any of his reports as I have no experience of them.But It’s well worth your time clicking the links on his website to read some pretty interesting articles even if they have a conservative slant and are often solicitations for trade.Some or probably a lot of the scenarios predicted may never come true.But reading them will give you ideas and insights into how some things may pan out.I have spent a whole evening reading articles on this website and  I got to know a lot about the state of the economy in places as disparate as Brazil,China,Italy,Greece,Australia and the US.Such news rarely makes it to the Indian newspapers.I have added the website to my blogroll to be certain to revisit it at frequent intervals.

PS:for all those concerned about the SEC action against Porter,I think here is an article that will set your mind at rest:http://www.nytimes.com/2010/07/04/opinion/04sun3.html