One of the most important newsletters of 2013...

Stansberry & Associates Hall of Fame
(Top 10 all-time, highest-returning closed positions across all S&A portfolios)

One of the best values in the precious-metals market today...

In today's Digest Premium, one of the world's foremost experts in precious metals and collectible coins discusses one of the best values in the precious-metals market today. It's a metal we doubt you've thought much about...

To subscribe to Digest Premium and receive a free hardback copy of Jim Rogers' latest book, click here.

One of the most important newsletters of 2013...

Editor's note: We're continuing our holiday Digest series with premium content from Dr. David "Doc" Eifrig. We'll return to our regular publishing schedule on January 2.

All last week, we published some of the best tips and secrets Doc shared with his Retirement Millionaire readers about everything from saving money to improving your health.

For the next two days, we'll excerpt from the December issue of Retirement Millionaire. We think this is one of the most important newsletters you can read going into the New Year.

In the bit we've excerpted below, Doc tells readers exactly where the economy stands today...

It's one of the "fastest ways to the poorhouse."

That's what my colleague Steve Sjuggerud said in a 2007 DailyWealth essay about using "margin" for stock trading. He called the use of margin – which is essentially borrowing money from your broker to buy stock – a "get poor quick" approach to investing.

Little did Steve know that less than seven years later, the "get poor quick" approach would soar in popularity.

Take a look at the first chart below... It shows that margin debt has hit all-time highs. "Margin debt" refers to the total value of securities purchased on margin.

Without going into the details... margin is a type of debt. Using margin allows you to buy shares of a stock with less upfront cash than you would otherwise need. When successful, it can magnify your percentage gains. But it can also exacerbate your losses. And like any debt, it costs you interest and you have to pay it off eventually. Most brokerages allow margin debt to make up to 50% of an account's total value.

These high debt levels are usually a sign that investors are margining their accounts in order to buy stocks that are trading at or near highs. The current surge in the popularity of margin trading tells me the market is staying emotional. People are getting caught up in the rush of the S&P 500 continuing to hit historical highs. So these investors are leveraging their money to buy expensive stocks.

I'm not saying stocks can't go higher from here. The market could have more room to run. But here at Retirement Millionaire, we aren't caught up in the crowd. We don't let emotions rule our investment strategy.

Knowing when it's the right time to buy a stock is one factor in making a good investment. Another factor is knowing when to sell. We don't want to pay too much for our investments, and we like to sell when things are a little overheated and speculators are crowding the market.

That's why it's critical that we look at the facts on the economy and investments.

As Stocks Soar, the Economy Just Keeps Chugging Along

Our current bull market in stocks is in its 56th month, dating back to April 2009.

The median length of U.S. bull markets has been 52 months. The median measures the middle data point – there are as many data points above the median as below. That minimizes the effect of extreme outliers. We're past the median now. So you're finding fewer and fewer historical examples of bull markets that ran longer than the current upswing... And that means this bull market is getting closer to the end than the beginning.

Since January 2010, the benchmark S&P 500 stock index has soared nearly 60%. But during this same time, corporate earnings haven't done so well. And it doesn't look like they will do much in the near future.

In the third quarter, earnings for S&P 500 companies rose just 1.4%. This likely reflects the government shutdown disrupting spending and trade. Expectations for corporate earnings for the fourth quarter aren't high, either. Experts predict earnings will rise by less than 3%, despite the usual increases in travel and consumer spending during the holidays.

The good news? While growth is still slow, it's improving from August, when I last told you earnings were only growing about 0.7%.

But not everything is pointing to a stalling economy.

Another indicator I look at is the Federal Reserve of Philadelphia's "Leading Index." It combines data on things like housing permits, unemployment insurance claims, interest-rate spreads, and manufacturing surveys in an attempt to predict where the economy is headed.

When the index is above "0," it indicates the economy is growing. When it's falling down to "0" (or below), that signals a slowing economy. Usually when a descending line crosses about 0.8, we're headed for a recession.

Note that the chart below shows we've remained well above 0.8 since the recession ended, with no downtrend.

Recall that the service sector accounts for about two-thirds of the economy. And the Institute of Supply Management trade association compiles a figure called "Non-manufacturing business activity." This gives us a good idea of the meat and potatoes of the economy. When the number is above 50, it indicates the service sector is expanding. As you can see in the chart below, business activity is hovering around 59-60... pointing toward more jobs and income.

Increases in employment and income also help push my next indicator – construction spending – higher. As more homebuyers enter the market, supply has to increase to meet the demand. As the chart below shows, things are growing steadily, although remaining far below prerecession levels... This is, again, consistent with no recession or slowdown in sight.

Here's to our health, wealth, and a great retirement,

Dr. David Eifrig Jr., MD, MBA

Editor's note: Doc fills every issue of Retirement Millionaire with tips for saving money, building wealth, and protecting your health. In the December issue, he also shared one way to stave off dementia... and how to qualify for a "gift" from the U.S. government.

Doc also recently released a book showing how to prepare you and your family to survive a crisis. He shows readers one critical tool that costs less than $20 that could potentially save your life... and the No. 1 way to prevent a home invasion. To learn how to access this "field manual" and sign up for a risk-free trial subscription to Retirement Millionaire for just $39 per year, click here.

One of the best values in the precious metals market today...

Editor's note: In today's Digest Premium, one of our top sources for information on precious-metals markets shares one of his top current investment ideas...

Regular readers will recognize Van Simmons' name. He's the president of David Hall Rare Coins, one of our recommended coin dealers. And he co-founded the Professional Coin Grading Service, the standard by which collectible coins are graded.

In today's Digest Premium, Van talks about an opportunity in a precious metal that doesn't get as much attention as gold or silver.

 Right now, platinum is one of the best values in the precious-metals market...

Platinum isn't nearly as popular as silver or gold. But I (Van) think it presents a good value. Platinum is heavier than gold. It's about 11% or 12% denser than gold. And around 80% of the total production is used in automobiles (namely catalytic converters). The annual production is only about 125-175 tons a year.

Platinum usually trades at a substantial premium to gold... It's 16 to 20 times rarer than gold. And unlike gold, the majority of the production is consumed for industrial purposes.

 Almost all platinum is mined in South Africa, Zimbabwe, and Russia... and Russia isn't selling it. And South Africa and Zimbabwe, as you likely know, are always having problems with wars, strikes, infrastructure, etc.

 Like I said, platinum usually trades at a premium to gold. But back around 1985, platinum was about $20 cheaper per ounce than gold. Then, it soared back to a premium over gold in the late 1980s and into the 2000s. The all-time high price for platinum was in March 2008, when it sold for $2,273 an ounce.

The 2008 subprime crisis hit. Platinum prices collapsed and again traded for less than gold. At the time, a lot of my clients traded their gold for platinum, which looking back now was a good trade, even though they've both moved down.

At the time, an ounce of platinum was $200 less than gold per ounce. (Gold at the time was about $1,700 an ounce.) Overall, platinum is down 17% since the crisis, while gold has fallen 30%... But platinum is more than 40% from its highs to $1,335 an ounce today.

– Van Simmons with Sean Goldsmith

Editor's note: In tomorrow's Digest Premium, Van will discuss the reasons why he thinks platinum prices will soon soar...

One of the best values in the precious-metals market today...

In today's Digest Premium, one of the world's foremost experts in precious metals and collectible coins discusses one of the best values in the precious-metals market today. It's a metal we doubt you've thought much about...

To continue reading, scroll down or click here.

Stansberry & Associates Top 10 Open Recommendations
(Top 10 highest-returning open positions across all S&A portfolios)

As of 12/20/2013

Please note: Securities appearing in the Top 10 are not necessarily recommended buys at current prices. The list reflects the best-performing positions currently in the model portfolio of any S&A publication. The buy date reflects when the editor recommended the investment in the listed publication, and the return shows its performance since that date. To learn if a security is still a recommended buy today, you must be a subscriber to that publication and refer to the most recent portfolio.