brad's speech at Camden Conference in May of 2008 in San Francisco

1. BRADLEY ROTTER
SPECULATOR
brad@rotter.com

2. Investing at the Peak of US
Civilization

3. US Civilization Just Peaked
Consequences are so
great, it is difficult to believe
(and see)

4. There are obviously many
factors at work, but
The biggest of factor of them
all is.......

5. THE INTERNET
Wouldn’t it be ironic if our
greatest gift to the planet was
also......the lynchpin of our
demise?

6. THE INTERNET enables
Arbitrage
IDEAS
CURRENCY
INTELLECTUAL PROPERTY
CAPITAL INVESTMENT
BUSINES MODELS

7. ARBITRAGE ALWAYS HAS
ONE OUTCOME
DIFFERENCES NARROW

8. THE DIFFERENCE THAT IS
BEING NARROWED
OUR STANDARD OF LIVING
DIFFERENTIAL

9. LAST MOVER ADVANTAGE

10. INVESTING AT THE PEAK
OF U S CIVILIZATION
CHALLENGING AT BEST
UNIT OF TIME HAS CHANGED
MARKET BECOMING MORE EFFICIENT EVERY 15
MINUTES
ADD GLOBAL DELEVERAGING TO EQUATION

11. HAVE A VERY FINE FILTER
REAL ESTATE CAN’T RECOVER UNTIL MORTGAGE
MARKET DOES
HEDGE FUNDS ARE TO EXPENSIVE GIVEN
OPPORTUNITIES
PREPARE FOR INFLATION

13. GENERAL CONSENSUS
ALMOST ALWAYS WRONG
THERE ARE 9 PLANETS
APPENDIX HAS NO FUNCTION
GLOBAL WARMING

14. BRADLEY ROTTER
SPECULATOR
brad@rotter.com
415 643 5050