Michael Covel

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Greetings from Myanmar (Burma)

This is my very first trip to the country.

Let me tell you…

A lot of people will get rich in Myanmar in the next 10 years.

I mentioned before that Saigon, where I currently spend most of my time, is booming.

Well, Myanmar is Saigon 15 years ago.

The country was literally walled off to outside world for 50 years until 2012.

Now it’s game on.

There’s a flood of foreign capital coming into the country.

You can see construction cranes everywhere.

Check out this cool picture…

Shwedagon Pagoda

That’s me walking outside the Shwedagon Pagoda, also known as the Great Dagon Pagoda and the Golden Pagoda.

It’s the most sacred Buddhist pagoda in Myanmar. That’s 60 tons of real gold, by the way.

p>I also came across this giant Buddha inside an old warehouse.

Buddha

It’s 217 feet long.

Isn’t that cool?

I’ll have more to say about Myanmar in the future.

For now, I want to switch to India, a county that borders Myanmar.

I recently recorded a podcast to talk about an incredible story that took place in India in 1865.

Few people have heard this story. But it has an important lesson for our age of boom and busts.

I hope you enjoy it. In this episode, you’ll learn:

  • A speculative folly that destroyed the Indian economy in the XIX century
  • Why “the next new thing” can lead to financial ruin
  • The best way to profit from bubbles and busts
  • And much more

Click here to listen to this episode.

Please send me your comments to coveluncensored@agorafinancial.com. I’d love to hear your thoughts. Please tell me exactly what you think. Don’t sugar coat it!

Regards,

Michael Covel
For, The Daily Reckoning

The Daily Reckoning