Marc Faber: Real Estate Investing and Renting Out Rooms To Concubines
Listen to this whole interview or start listening at 2:45
Marc Faber: “I was in Phoenix the other day, and then the taxi driver took me to a nice hotel, The Fairmont, and then he told me about how the person he drove right before me told him that he just bought a 5 bedroom house for $120,000. Where in the world can you buy a 5 bedroom house for $120,000 (good question?).
I would buy it, live in one bedroom and rent out 4 bedrooms to concubines!”
Faber is a straight old-school G.
Here is Faber talking about La Jolla, Newport Beach and Laguna Beach. Neighborhoods I am not all unfamiliar with.
And here is Faber talking about Facebook. But more importantly he spits Game at the Asian interview girl.
Jim Rogers Is Bullish On All Commodities, But There’s Only One Sector He Would Buy Right NowBBC Speechless As Trader Tells Truth: “The Collapse Is Coming…And Goldman Rules The World”
Ingrid Casares & Chris Paciello Back in Biz with The Light Group at the Delano?
If you believe the rumors, South Beach is about to go retro, back to the days when people actually danced at clubs, when real celebrities came to party because they wanted to and not for a carefully orchestrated, trite tabloid photo op, and when the words South Beach and hip together in the same sentence was anything but oxymoronic. That’s right, we have excellent sources telling us that the Captain and Tennille of 90s Miami nightlife, Chris Paciello and Ingrid Casares, are teaming up again, this time as partners in the food and beverage operations at the Delano left recently vacant by Jeffrey Chodorow, who was bought out by the hotel’s owners, Morgans Hotel Group, for $20 million.
Chris Paciello back on South Beach scene at Delano
For the first time since he was released from federal prison five years ago, Miami Beach’s fallen nightscape overlord has returned to where it all started.
Chris Paciello, now 40 and described by some who have run into him as “subdued and humbled,” is settling down at the Delano Hotel.
He’ll be living there for the next few months as he works to give back to the legendary beachside resort its No. 1 ranking among hipsters and celebrities.
Deja view: Mixed reviews on the return of Chris Paciello
Ever since we broke the news that old school South Beach club guy Chris Paciello was returning to his old stomping grounds and possibly reuniting with his former partner Ingrid Casares in the nightlife biz, the reactions have been as polarizing as the Tea Party vs. the Democrats only, instead of tea, it would be vodka. On one side you have the champions, cheerleaders and aging club kids who can overlook his past and subscribe to the Nostalgia Party (there’s already a Chris Paciello Fan Club and “Chris Paciello, The King Is Back” page on Facebook), while on the other side you have those who say it’s just wrong to glorify the return of someone with a criminal past—we’ll call them the Concerned Party. Both sides will argue back and forth over this until the lights come on in the new Light Group-sanctioned Delano hot spot, so there’s really no end to the debate.
Some say people are jealous or nervous that the reunion of the team some say made South Beach the nightlife capital it once was will ruin their own businesses, and others say that people are downright nervous in general, not for business purposes, but for reasons involving personal safety. It’s no secret Paciello had a violent past, for which he has served time in prison. It’s no secret that he had enemies, some who still live and work on South Beach. We spoke to nightlife veteran Gerry Kelly, currently serving as marketing and nightlife operator at Trio On the Bay, who worked with Paciello and wasn’t exactly BFF with the guy back in the day. “I was surprised to hear he was returning to Miami,” Kelly admitted. “I do believe we all learn from our experiences in life. Miami’s nightlife and entertainment culture has changed so much since the late 90s that we all have to adapt and change to keep up with the never ending new trends. The city is definitely big enough for everyone and I wish him the best.”
‘Limelight’: The Rise And Fall Of The Church Of Rave
On Friday, a documentary ostensibly about the rise and fall of a one time club king named Peter Gatien opened in New York (it opens around the country next month). In the early to mid-1990s – the height of rave culture in the U.S. – Gatien owned the biggest clubs in New York City, including Limelight, which lived in a deconsecrated Episcopal Church in the Chelsea neighborhood. Today Gatien lives in Toronto, where he was deported in 2003 after pleading guilty to tax evasion. And Limelight has become a mall. It calls itself a “Festival of Shops.”
Much of the story told in Limelight will be familiar to readers of Clubland, a book chronicling mid-’90s nightlife written by Frank Owen, who covered Limelight at its height and followed its scandalous end in the pages of local alternative weekly the Village Voice. It certainly was to the documentary’s director, Billy Corben, who read the book as he was pursuing another documentary about the man who ran the biggest club in Miami in the mid-’90s. Owen appears frequently as a kind of expert witness in Limelight.
“I had read Clubland because of our interest in Chris Paciello and Liquid in South Beach, and the Miami angle,” says Corben, best known for 2006’s Cocaine Cowboys. Corben and producing partner Albert Spellman still intend to make a movie about Paciello. But first, they’ve made Limelight, which focuses on Gatien, the eye-patched Canadian nightclub impresario who owned Limelight, Palladium, Tunnel and Club U.S.A., who was brought to trial by the City of New York under mayor Rudolph Giuliani’s mid-’90s crime crackdown, alleging that Gatien was overseeing a massive drug ring in his clubs.
Custom Suits and Dope Shoes: Save Money by Spending Money
When I posted this, Undefeated Gucci Loafers, a lot of people asked me, “But what if I don’t have the money for Gucci Loafers and Custom Suits?”
Here is the thing most people don’t realize: Custom Suits and Dope Shoes actually save you money.
Let me break it down:
You throw down 5 G’s for a Custom Suit.
If you take care of it, you can have it for minimum 10 years (if not a lifetime and hand it down to your little baby G’s if you go that route).
$5,000 / 10 = $500 per year.
Pretty damn cheap.
Now ask yourself, what would you rather have, a Custom Suit, or some crappy off-the rack job by Hugo Boss for $500 where the buttons will pop off after a heavy night?
Same thing with Gucci Loafers, let’s break it down:
Now ask yourself, what would you rather have, a dope pair of Gucci Loafers or some weesh Kenneth Cole’s that will fall apart in 6 months?
Side note: It’s a little harder to pencil out handmade shoes, but they are worth every penny.
And here is the kicker.
With all the money printing that Bernake is doing, investing in Custom Suits and Dope Shoes is investing in real assets. So you are actually hedging against inflation.
Trust me, when the apocalypse comes, you are going to want to have some silver, some gold, some emeralds, some diamonds and shooting it out with an AR-15 and taking Thorozine while Custom Suited Down.
For Style Points, of course.
International Playboy of The Apocalypse.
The Rest is Up to You…
Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
Jim Rogers breaks down commodities from an old interview.
Jim Rogers : Missing out on Commodities?
Matthew Bradbard’s daily commodity round up:
Brace for the Fed as we expect it to be a market mover. Indecision in the oil market as prices close virtually unchanged today. If we fail to make a new contract high in the next few sessions we should resume the set back we’ve been forecasting, in June that would be a trade over $114.05. A settlement below the 20 day MA should confirm a move lower but before either scenario happens we’re just guessing, that level is $108.90 in June WTI. We suggest the sidelines in natural gas willing to be a seller on a spike higher. We cut losses for clients that still held bear put spreads in the June ES; it resulted in a loss of approximately $400/per position including fees.
Crude oil prices have been rising. Do you see supply constraints on mounting pressure from West Asia or speculation?
Of course, it’s supply constraints. Libya has closed down some of its oil production, while Egypt is having problems with its production. There are turmoils in many countries and this is causing supply problems.
These may be temporary problems, but the world, in the mean time, is losing some of its inventory. So, if there is calm and peace tomorrow, we may have oil go down for a while, but the basic problem that the world is running out of known oil reserves continues.
What is your medium-term outlook on crude oil?
Crude oil will continue to go higher, though there can be intermittent corrections. The price of oil is going to continue to rise for years to come.
The dollar index has fallen almost 6 per cent in the past three months. Do you feel that the dollar is losing its appeal as the reserve currency?
Yes, it is an ongoing process. The correction has been severe. But, that is going to happen with the US dollar, as it continues to lose its status as the reserve currency. It is a terribly flawed currency.
Are you investing in other currencies? Which is your favourite and why?
The renmibi is my favourite currency. China has a gigantic balance of trade surplus, and it is the largest creditor nation in the world.
It has a lot of things going for it. Clearly, a currency that can and will go up is the renmibi.
The Chinese are trying to hold it down now, rightly or wrongly. And, I think it is a mistake to try to hold it down. But, the renmibi is the currency that has to appreciate a lot in the next few years.
The bull run has just begun in agricultural commodities. How long do you see that lasting?
I am very bullish on agricultural commodities, probably more than other class of commodities. My favourite agri-commodity is rice.
What is your outlook for gold and silver?
I own both gold and silver and I am neither selling nor buying these two precious metals at current levels.
This week, there are supposedly going to be mass demonstrations/protests in Saudi Arabia. If this happens, gold and silver prices will surge and I will then buy. So, I am not buying gold and silver right now, but I am certainly not selling.
After the recent correction, how are you viewing the Indian equities?
I am just watching. I have sold/short emerging markets and emerging market (EM) ETFs.
EMs have been one of the most exploited sectors of the market in the last two-three years. I have sold/short emerging market and I am not buying any markets anywhere except commodities.
