"There was a great disturbance in the 3x inverse Gartman ETF, as if millions of human, algo, quant and HFT trader voices cried out in terror and were suddenly silenced."
It appears that the Gartman Letter, the world's most valuable letter for market contrarians, is sadly coming to an end.
A SPECIAL ANNOUNCEMENT REGARDING THE FUTURE OF THE GARTMAN LETTER:
After a great deal of thought and with an even greater deal of sadness, we have decided to cease producing The Gartman Letter as of December 31st of this year after three and one half wonderful decades of rising each morning at 1:00 a.m. to write and complete our duties.
During this time we have witnessed the advent and ubiquity of the fax machine; the arrival and even the greater ubiquity of the internet; the virtual demise of some of the world's great newspapers; the wonder of Microsoft Word; of Adobe Acrobat et al. We've lived through the fall of the Berlin Wall; the creation of the European Union; the rise and retirements of friends and clients; hurricanes and power outages and all the while having missed less than a handful of TGLs over those decades.
But there comes a time when retirement calls. My right hand is weary and is giving me problems, making daily writing a good deal more difficult than it had been in the past. Too, the simple sums of information available to everyone have made our efforts difficult and yet easier at the same time. Add to this the increased tax and regulation requirements and we've chosen to stop doing business as we have in the past.
We are thinking about our future...maybe a bi-weekly bulletin or perhaps podcasts and other technologies that may be available to us in the future to try to make certain that we are not immediately forgotten by our myriad friends in the capital and commodity markets. Also we like the television, radio and print interviews that we do and wish not to give that up and won't, if called upon. And, of course, our weakening golf game needs some far greater attention!
We want to take the time to thank everyone who has been a friend to TGL over the years and they are far, far too many to mention. This has been a truly wonderful experience over the decades and we shall always consider ourselves uncommonly fortunate. If the next decades are only half as great as the last three and one half, how lucky shall we be?
* * *
Goodbye Dennis, you will be missed.
That said we are not worried about Gartman's financial well-being: it is only a matter of time before Steve Cohen and Israel Englander stage a record bidding war to retain the "world-renowned commodity expert", silo him off in some pod and have all the firm's other traders do precisely the opposite of what Dennis recommends.