President, Best Minds Inc.
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Doug Wakefield, President of Best Minds, Inc. has been in the financial industry for 30 years. Doug received his CFP in 1988, his Masters in Estate Planning in 1997. As of October 31, 2007 the choice was made to relinquish his CFP ... more

ALL CONTRIBUTIONS

When The Computer Herds Hit The Exits
Cycles have been around for centuries. No amount of market intervention and “assistance” will delay the cracking of a debt bubble forever.
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The Trillion Dollar Stock Question
The last full week of July has presented us with three possible candidates for the trillion-dollar circle; the pinnacle of stock market mountain.
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Removing Fuel From A Rally On Fire
The 1,100 point drop in the Dow should wake us up. We should seek to understand how debt at the global level could change our own lives.
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When The Snowball Reverses
The snowball becomes heavier with every “we are in control” press release from our financial gods. Yet the experience in US stock indices since December 2016 has planted a false idea in investors mind.
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The Top Of The Wealth Effect
The Dow reaches 22,000 this month, proving the “wealth effect” has worked…right?
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19,20,21….Faster, Faster
Aren’t you glad that the Dow leaped to 21,000 yesterday. I mean, just three weeks ago its low for the day was 20,015. In fact, on November 22, 2016 the Dow crossed 19,000 for the first time.
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Comments

Latest Comments
Populism: The Danger? What About Debt?
2 years ago

Gary. To me this is the most sobering aspect of QE. The global planners of markets and economies must create a narrative to move blame away from their own experiments in constantly assisting with tens of trillions in debt since 2008. To talk of "bulls go on longer than you think" without addressing the fact that at the end of the bubble a narrative has to be told the public in order to shift blame from these elite planners, it is not only horribly misleading, but Orwellian. Thanks for your comments. Keep talking to anyone who will listen to you.

The Looming Shortage In Government Bonds
3 years ago

In March 2015, the JP Morgan annual stockholder report discussed the shrinking of Treasuries in ciruclation since 2007 even though the supply worldwide had expanded greatly. The evidence supported what you are talking about here. Central banks, sovereign wealth funds, etc, had been buying up US Treasuries and other Tier one assets (Basel III), while the supply at the dealer level had been shrinking dramatically. Your article only reinforces what I told my readers last year, and makes perfect sense. This is going to produce a huge shock to those holding heavy stock allocation with the mindset that higher stock prices mean MORE liquid assets, when development in US Treasuries since 2007 makes it clear this is not the case. Excellent article.

The Soaring Risk Of Flying In Bernanke’s Helicopter
3 years ago

Gary. The track record of central banks has never been a "one and done". These organizations have come to believe there IS nothing that will stop them from printing up more money "when needed".

In this article: DJI, TNX
The Soaring Risk Of Flying In Bernanke’s Helicopter
3 years ago

Thanks David.

In this article: DJI, TNX
The Soaring Risk Of Flying In Bernanke’s Helicopter
3 years ago

Gary, I am not calling# Friedman a socialist, but there are direct links between writings of #Keynes and #Marx. Deficit spending was taken from Das Capital. I agree that that #QE has done little to nothing for fueling the trillions created into developing opportunities for jobs and sustainable growth across the entire economy. Instead it has fueled the greatest gap between the highest levels of wealth and the lowest levels of poverty. This is clearly not a successful model. As long as the power to fix the problem is concentrated in the hands of less than a half dozen central banks owned by the global investment banks, I don't see how we are headed in the right direction. Wish I say commitment to the people, but I haven't and don't see it today.

In this article: DJI, TNX
The Soaring Risk Of Flying In Bernanke’s Helicopter
3 years ago

Thank you Danielle.

In this article: DJI, TNX
The Soaring Risk Of Flying In Bernanke’s Helicopter
3 years ago

Moon. Unless govenments stand up to these global central banks, which they have no track record of doing as a group, then the banks own the nations. Just my two cents. Sure wish it were different.

In this article: DJI, TNX
The Soaring Risk Of Flying In Bernanke’s Helicopter
3 years ago

Gary. I know that we are stuck with central banks pushing us more and more toward the global cliff. Over decades we have embraced the idea of "more debt and faster" as the solution to the latest debt crisis. All we are doing is training each generation that unlimited debt and state intervention is the only way out. That is why we are in the monumental mess we are in.Just my two cents as we watch so many first in history events, and the vast majority of the public totally clueless how much is taking place that the "expert" central planners have never seen before either. Frankly, financial socialism was never a theory I have supported.

In this article: DJI, TNX
Will Derivatives Be The Next Black Swan?
3 years ago

Gary and Moon. As maddening as the time we are all living in, it always encourages me to find individuals seeing the same big issues as I see. Thanks for your comments.

Will Derivatives Be The Next Black Swan?
3 years ago

Samson. I remember in the fall of 2006 one of the rating agencies giving a CDO bundling CDOs a rating of A+. The following spring in 2007, just as the banks were topping there was an SEC release which explained how the big banks had their own risk models, and thus regulated themselves based on these models. We know how that turned out in 2008. The big banks started down in February 2007, and the markets rolled over between 8-9 months later. June and July 2015 were the highest peaks since 2008 for the 6 largest Wall Street Banks. JPM is the only one close to its summer 2015 high. With the Dow closing over 18,000 only five days this April after leaving this level on July 20th last year, it would seem the efforts to levitate US stocks is running out and the broader indices will start catching up with the big bank stocks, as well as the other major equity markets.. Thanks for the informative article.

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AAPL Apple Inc.
GM General Motors Company
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Work Experience

President
Best Minds Inc..
January 2005 - Present (15 years 1 month)

Best Minds Inc is an Independent Fee Only Registered Investment Advisor specializing in providing insight to investors, advisors, traders, and anyone seeking to learn from the financial history we have lived through.

President, R.I.A. and C.F.P.
Generations Advisors
May 1996 - January 2005 (8 years 10 months)

Provided financial planning for clients primarily in the preretirement market. Also provided education to charities on charitable estate planning, as well as worked with clients and their other advisors on estate plans.

Managing Principal
Butler, Tally, Freeman Financial Group
January 2003 - December 2004 (2 years)
Managing Principal
FSC Securities
May 1996 - December 2002 (6 years 9 months)
Personal Financial Planner
IDS/American Express
November 1985 - May 1996 (10 years 8 months)

Education

Ludwig Von Mises Institute, Auburn, Alabama
2002 / 2004
Attended a summer session, Austrian Economics
Collage for Financial Plannning, Denver, Colorado
Master's of Science
1992 / 1996
Estate Planning
University of North Texas
Master's degree
1980 / 1982
Music Education
Auburn University
Bachelor's degree
1975 / 1980
Music Theory and Composition

Publications