A Controlled Demolition
Joel Litman on the Stansberry Investor Hour podcast... Try Joel's 'Doubles Scanner' now... Talk about an awkward Fed meeting... The 'Mar-a-Lago Accord' playbook... A 'controlled demolition'...
When Professor Joel Litman speaks, we listen...
Joel is a world-renowned forensic accountant and the founder and chief investment officer of our corporate affiliate Altimetry. And this week, Dan Ferris and I (Corey McLaughlin) had the chance to interview him on the Stansberry Investor Hour podcast.
The first fact Joel dished out was that hundreds of stocks have doubled in price in the past six months alone.
As Joel explains, today's "amazing" bull market is defying projections...
At the beginning of the year [they] said we [were] going to have a recession [and] it's going to be a bear market... They got it so wrong to misunderstand the power of the U.S. economy and U.S. stock market, even with all the changes that have been happening in the past eight months.
Joel shared why he believes everyone got it so wrong. Frankly, some of his views might not be popular, but that's part of the reason why I enjoy listening to him.
You can check out the full interview for free here on YouTube or listen to our audio version at InvestorHour.com or wherever you listen to podcasts... and be sure to sign up for Joel's new presentation that's debuting tomorrow.
As we mentioned yesterday, Joel – whose clients include all the big Wall Street investment firms – is going public with new research about what he calls "the greatest moneymaking anomaly in the market today."
When you register for this free event, you can also test out Joel's "Doubles Scanner" system for free... but only until his presentation goes live tomorrow. You can learn more – and sign up – here.
Speaking of 'just in time'...
Last night – just hours before the Federal Reserve's two-day policy meeting began in Washington, D.C. today – the Senate confirmed Stephen Miran to the central bank's policymaking board for a roughly four-month term. The vote was 48-to-47.
Miran – the chairman of the White House's Council of Economic Advisors and coiner of the phrase "Mar-a-Lago Accord" – is replacing Adriana Kugler, who unexpectedly resigned ahead of the Fed's previous meeting last month.
The phrase "Mar-a-Lago Accord" became popular in Wall Street circles to describe President Donald Trump's economic plans, which also called for a weakening of the U.S. dollar. Lower interest rates are central to that. So Miran's preference is clear.
Miran was Trump's quick choice to serve out Kugler's term – set to expire at the end of this year. While he sits on the Fed's decision-making board, Miran will take an "unpaid leave of absence" from his position in the White House.
If the Fed ever had full "independence," that's obviously gone now.
And wouldn't you know it, sitting in the same room with Miran and 11 other members of the Federal Open Market Committee is Lisa Cook. That's the same Lisa Cook Trump is trying to remove from the Fed via allegations of mortgage fraud.
Yesterday, a federal appeals court upheld an earlier lower court ruling that Cook could keep her job while her lawsuit against the president firing her is ongoing. The White House is appealing to the Supreme Court.
Talk about awkward...
We would love to hear the discussion or even the pleasantries and introduction portion of this meeting.
Miran and Cook are reportedly sitting just one seat apart from each other in the meeting room. That's per Wall Street Journal reporter Nick Timiraos, who some refer to as the "Fed whisperer" for often citing anonymous Fed sources when they want a message leaked...
With mounting political pressure and a weakening jobs market, the Fed is expected to lower its benchmark lending rate by 25 basis points. As we wrote in our September 4 edition, the day of Miran's job "interview" before Congress...
Whether Miran is on the voting board or not, Fed-influenced interest rates are probably heading lower anyway.
As of today, federal-funds futures traders have put 97% odds on the Fed cutting its benchmark bank-lending rate range by 25 basis points at its next meeting on September 16 and 17. That's up slightly from just yesterday, after a few more concerning signals from the jobs market today, plus a recent speech from Fed Chair Jerome Powell that policy could change soon.
This market reaction tells us that traders believe the Fed has room to cut interest rates in the weeks and possibly months ahead. Based on its dual mandate of balancing "stable prices" with "maximum employment," falling employment calls for lower rates.
Whether this is because the central bank is really "independent" or not, or because Powell just wants to stop being called "stupid," is another matter. But with the labor market looking more concerning than inflation right now, the Fed can justify lowering rates to juice the economy.
Two weeks later, we would be surprised by anything other than a 25-basis-point cut. As of today, fed-funds futures trades have put 96% odds on this cut, with a 4% chance of a 50-point cut.
The Fed will announce its latest policy decision and quarterly economic projections at 2 p.m. Eastern time tomorrow. Powell will follow with a press conference. We'll have a report in tomorrow evening's Digest.
The 'Mar-a-Lago Accord' playbook...
Trump relentlessly calling Powell "too late" for not lowering interest rates... attempting to stack the Fed with his guys to speed along the process... and seeking "low-interest people" for the future Fed chair position are all just part of a major economic story unfolding right now.
As we've been writing, we're seeing the continued and accelerating devaluation of the U.S. dollar play out right before our eyes.
And our Dr. David "Doc" Eifrig – Stansberry Research senior partner and now CEO of our parent company MarketWise – doesn't want anyone to be caught off guard by what's happening. So he has put together a new briefing with all the details about the "Mar-a-Lago Accord" – a reset authored by Miran and Treasury Secretary Scott Bessent, who wields heavy influence in the Trump administration.
Doc outlines what the biggest impacts of the "Mar-a-Lago Accord" will be on the economy and markets and, importantly, how you can take steps to protect and grow your wealth in a "controlled demolition of the monetary order."
As Doc says, this "reset" of the U.S. dollar "will affect everything you own"...
Think about it...
What's in your savings account? Your money market fund? What is your mortgage valued in? How do you express the value of your stocks and bonds? Unless you're one of those rare Americans who has money parked overseas, every single thing you own is in dollars.
That's what makes this intentional devaluation so dangerous. And this isn't speculation, by the way. It's already happening: The dollar has suffered its worst six months in more than half a century. The "Mar-a-Lago Accord" is the driving force behind this alarming drop.
And this is just the beginning.
Again, this plan is all written down in black and white... as you're about to see.
Doc, a former Goldman Sachs trader, has predicted everything from the 2022 crash to the death of the 60/40 stock-bond portfolio and even the rise of blockchain.
Now, he's sharing the three key investment plays people should make as the demolition of the dollar happens.
Without them, Doc says Americans could see their retirement savings lose 40% in value. But those who make the right moves could potentially see gains from 500% to 1,000% in the long term.
Click here to watch now and learn how to access Doc's recommendations.
Stansberry Alliance members and Doc's Retirement Millionaire subscribers, feel free to watch this free presentation, but you also have access to all of this research and Doc's portfolio recommendations here.
New 52-week highs (as of 9/15/25): First Majestic Silver (AG), Alamos Gold (AGI), Altius Minerals (ALS.TO), BAE Systems (BAESY), iShares MSCI BIC Fund (BKF), Cameco (CCJ), Ciena (CIEN), WisdomTree Japan SmallCap Dividend Fund (DFJ), Dimensional International Small Cap Value Fund (DISV), iShares MSCI Emerging Markets ex China Fund (EMXC), EnerSys (ENS), iShares MSCI Italy Fund (EWI), Comfort Systems USA (FIX), Franklin FTSE Japan Fund (FLJP), Franco-Nevada (FNV), Cambria Foreign Shareholder Yield Fund (FYLD), VanEck Gold Miners Fund (GDX), VanEck Junior Gold Miners Fund (GDXJ), SPDR Gold Shares (GLD), Alphabet (GOOGL), iShares Convertible Bond Fund (ICVT), iShares U.S. Aerospace & Defense Fund (ITA), JPMorgan Chase (JPM), KraneShares CSI China Internet Fund (KWEB), L3Harris Technologies (LHX), Lumentum (LITE), Neuberger Berman Next Generation Connectivity Fund (NBXG), New Gold (NGD), OR Royalties (OR), Pan American Silver (PAAS), Invesco WilderHill Clean Energy Fund (PBW), Sprott Physical Gold Trust (PHYS), Sprott Physical Silver Trust (PSLV), Royal Gold (RGLD), Construction Partners (ROAD), ProShares Ultra Technology (ROM), Sandstorm Gold (SAND), Skeena Resources (SKE), iShares Silver Trust (SLV), TKO Group (TKO), Torex Gold Resources (TORXF), Uranium Energy (UEC), ProShares Ultra Gold (UGL), Global X Uranium Fund (URA), United States Commodity Index Fund (USCI), ProShares Ultra Semiconductors (USD), Vanguard S&P 500 Fund (VOO), Wheaton Precious Metals (WPM), and ProShares Ultra FTSE China 50 (XPP).
In today's mailbag, more thoughts on the Fed's impending interest-rate decision, which we've discussed lately... plus someone's happy with our 52-week highs list... Do you have a comment or question? As always, e-mail us at feedback@stansberryresearch.com.
"It's not what inflation is doing now, it's what it's already done. That is because inflated prices do not come down. They stay at a new 'normal'. I will give you a real-world example from my household. Health, auto, and homeowners insurance has gone up over 40% over the last couple of years while my wages have not. I'm paying over $200 more per month on just these three expenses. That means I'm not spending $200 a month on other purchases. Wage growth across the board is the issue.
"Regarding rate cuts. They only happen when the economy is in jeopardy. We as a country are in this position today because of fiscal irresponsibility. Rate cuts will not balance the budget or bring the deficit under control. The ordinary citizen is not going to alter their spending habits because the Fed reduces interest rates..." – Subscriber Ted B.
"Hello, it is always nice to see a Stansberry Research recommendation in the new 52-week high in the daily Stansberry Digest on a regular basis. Thanks Team!" – Subscriber Jeff A.
Corey McLaughlin comment: Thanks for the note, Jeff, and enjoy. There have been a lot of names on the 52-week highs list lately.
All the best,
Corey McLaughlin with Nick Koziol
Baltimore, Maryland
September 16, 2025