What are the steps to financial independence? In order to figure out the answer to this age-old question, we need to know what it is first. For the purposes of this article, let us define financial independence as being independent of your financial situation; not having to spend your life serving others or even working to have what you need to get through life meeting your personal goals. Let’s also disregard the theories that would propose living without money in some warped sense of existence. We all need money, and the more of it, the better. To become financially independent, we need some ground rules.

There are so many gurus out there publishing book after book about what these ground rules should entail. For this short article, let’s stick to the basics – those rules that are undeniable.

The first such rule is that you must wear a cap now to let your hair down later. Put a cap on your spending. This is not to say that you have to give up all luxury. You are still aloud to enjoy every day of your life, and are seriously encouraged to. However, you need to be constantly aware of your spending. Maybe you should not buy that new Corvette even though you could possibly stretch to afford it. There is a reason for this, and it is rule number two: Saving.

Saving is the hardest thing for most people to do. The enticement of instant gratification, temptation, is the true root to the evils of poverty. If you want to have bank in the future, then you need to develop the bank today. If this were not so, you would already consider yourself to be independent of your finances. It comes down to determination. You must employ the power of your will to save money. This may entail embracing those things that are said to be best: the free ones.

The third rule here is to develop your brain, especially when it comes to managing your assets. Rather you invest in real estate, stocks, business or any number of diversified ventures, you need to be smart. The goal is to develop a passive income that works for you; it provides for you with minimal effort from you. There is no one way street here. On the contrary, there are as many ways to grow wealth as there is to use it up. Have the willpower to learn, and then learn to use your willpower to grow your wealth. The world is your oyster!

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There have been many times in our history that the stock market has gone down or collapsed. The key is preparing for a down market and knowing what to invest in as the economy goes sour. Over the years many experts have had many ideas on what to do once the economy gets weak. Some say that you should buy commodities and others say that you should not invest at all. The basic key to surviving a falling market I think, is to narrow down your portfolio to just a few investments in a few industries. The companies and industries that you use should be resistant to market conditions which we will talk about next.

So you may be asking yourself, what industries are the most prone to thrive even in bad economic times? Many of the industries that do the best in the worst of times have an addiction or impulse attached to them. In other words, during the Great Depression many people were still making impulse buys to get alcohol, and bars were thriving during the depression. Armed with this knowledge, you will have to presume based on my opinion, companies that are based on impulse buying are more resistant to economic problems. Smoking has been around for years and is also based on addiction–impulse. During a depression, there are impulses and addictions with related industries such as beer companies, bars, tobacco companies, adult entertainment and gambling businesses.

There are many other companies and industries that seem to do well in a bad market. Any company that is necessary will always outlast companies that are a luxury. For instance, power companies are needed to heat houses in the winter, and they are needed by the people to survive. The other types of needed companies include food and grocery retail companies, since we all have to go on eating and using a lot of durable goods. Companies will perform well in a down market if they sell goods or services that are necessary to daily life. Oil companies would be another good investment since it is necessary for much of the population to drive and use plastic goods.

Your portfolio in a down market should include the tough companies talked about above in order to make money. You should hedge your bet in a variety of impulse–addiction industries, and couple that with companies that are necessary to survival such as power companies. I have noticed that if you follow these rules in a down market you will notice a much bigger difference in your returns that are based on common sense and previous economic history.

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If one believes the forecasts recently made by Terry Adams of UK-based Adams Metals and the Albemarle Corporation, then the escalating demand for molybdenum products could impact the stainless steel business of POSCO. The Korean-based steelmaker, with about 6.5 percent of sales coming from stainless steel, is the worlds fourth or fifth largest, depending upon production or market capitalization.

According to the companys 2006 annual report, POSCO exports more than 70 percent of its steel products across Asia, mainly to China, Japan and southeastern Asia. In response to record high nickel prices, the steelmaker announced it would begin manufacturing nickel-free stainless steels. So did European steelmakers ThyssenKrupp and Outokumpu, which has heavily relied on its austenitic products.

Would a sustained rally in the moly price result in the same backlash nickel recently suffered? Unfortunately for steelmakers, molybdenum has a broader range of applications than nickel.

At a recent industry conference, Terry Adams shocked his audience by warning of potential supply/demand imbalances commencing as early as 2011. He believes by 2015, the molybdenum price could get interesting.

But, this wasnt the first sign of brewing trouble for molybdenum buyers. In early May, one trader told American Metal Market magazine, We just dont have any supply available. He lamented that primary moly producers, also known as swing producers, have nothing to sell right now.

On June 18th, China is expected to announce the export quotas for molybdenum products it has assigned to a limited number of exporters. Potential labor disputes at copper mines in Mexico and Chile could further reduce available molybdenum supply later in June. A Chilean labor spokesman warned of a hard and prolonged strike. Molybdenum mined as a byproduct of copper production accounts for about 60 percent of the global supply.

At this pace, molybdenum pricing could be severely impacted as early as this summer. By next year, if primary molybdenum production doesnt quickly rise to meet the demand, the pricing climate could worsen for end-users. Some traders believe moly prices could soon creep above previous price peaks two years ago. Things are going to get a lot firmer because theres a lack of material, one trader reported earlier this week. Theres not a lot on the ground.

According to different down-the-road forecasts, the magic demand number is 460 million pounds of molybdenum. Adams predicts that projected western world demand could reach this consumption by 2015. Others believe strong moly demand could bring this target consumption a few years earlier.

Another concern is one we highlighted in a previous article.
stockinterview.com/News/11082006/Roasting-molybdenum.html USGS molybdenum commodity specialist Michael Magyar warned of a bottleneck, we cant roast much more moly right now. No one is actively permitting for more roasting capacity in North America.

Additional roasting capacity is, however, coming online this year or next, courtesy of Molymet. Adams points out, With the growth in demand a new roaster, the size of the new Molymet roaster is needed every two years. Adams further explained, Without further investment a roaster bottleneck could occur in 2011. Molymet plans another roaster about this time, but this would only allow another two years growth.

In his presentation, Adams glimpsed in the future. While western world demand should continue to annually increase by three percent, demand in China and the C.I.S. could increase by more than 10 percent every year. The combined global effect would be an annual growth rate of about 4.5 percent, he predicted. Western mines will have to increase production by at least 6 percent per annum.

As we and others have concluded, Adams forecast, Increased output at primary (moly) mines will be needed to fill the gap beyond 2009.

We presume delegates from the junior molybdenum mining attendees mentally began popping champagne corks after Adams announced this point. But it was his next two points which investors should digest:

New or shuttered primary mines will have to open by 2011
By 2013, current primary mines and Climax could be at capacity

High-Level Growth in the Molybdenum Chemical Market

Having researched molybdenum for more than one year, only recently did a couple of technical experts (http://stockinterview.com/News/06042007/molybdenum-copper-nickel-condenser-crossover.html) help us understand how much molybdenum is utilized in the condenser tubes of nuclear and desalination plants. Because of the diversified applications for this metal, there is less reliable information about the molybdenum sector than in others weve explored, e.g. uranium.

We continue to gather data for our next publication, Investing in the Great Molybdenum Bull Market, and will present our detailed research in late August.

We have discovered two strong-growth areas for molybdenum applications.

Its not just the steel market which uses molybdenum. Although the stainless and low alloy markets represent about two-thirds of molybdenum usage, the fastest growing market appears to be catalysts in the moly chemical market.

According to a spokesman for the Albemarle Corporation, moly consumption in the catalyst section could grow by more than 30 percent by 2011. The chemical sector could consume as much as 30 million more pounds in the 2006 to 2011 time period.

The global catalyst market is expected to reach US$13 billion in sales this year. Of this the petroleum refining sector should consume about 35 million pounds of molybdenum. The moly is used as a hydroprocessing (HPC) catalyst.

Growing global demand for crude oil, changing fuel specifications and strength in demand for aviation and diesel fuel should contribute to molybdenum demand.

Because the overall quality of crude oil has significantly deteriorated, over the past 25 years, more molybdenum could be consumed as a catalyst during the refinery process. Sulfur content in U.S.-imported oil has doubled over this same time period. Molybdenum-based catalysts are utilized to remove sulfur from petroleum, petrochemicals and coal-derived liquids

Tighter specs over the past 15 years have demanded a higher performing catalyst and more contained molybdenum in those catalysts. Over this time frame, catalyst demand per barrel of crude oil has doubled an average growth rate of five percent per year.

One industry expert expects global HPC catalyst growth to annually increase by eight percent between 2006 and 2010. Molybdenum consumption for this use could increase by 46 percent through 2010. Annual consumption could rise to more than 60 million pounds of molybdenum.

Lack of New Primary Mining Supply

The typical molybdenum concentrates being sold by the copper producers, as byproduct mining, contain 40 45 percent Mo. Concentrates from primary producers often average 50 55 percent.

As a result, primary molybdenum mining operations offer a more desirable concentrate. Technical moly, also known Mo03 (molybdenum trioxide) specifies 57 percent Mo and contains less than 0.05 percent copper and 0.1 percent sulfur. Primary molybdenum producers provide concentrates with lesser amounts of deleterious elements.

Because the concentrate is cleaner, less roasting is required to upgrade the material to tech oxide spec. Less electricity is expended to power the multi-hearth furnaces during the roasting process. The cleaner primary moly concentrate offers the roaster more flexibility. The higher spec concentrates can be blended with lower spec concentrates to upgrade the overall product, or the roaster can refine the higher spec material separately if the end-user requires it.

The less roasting to bring material up to spec could also help avoid the bottlenecks a few years from now.

Although byproduct molybdenum producers are expected to bear the brunt of increased demand, the copper producers arent cooperating. Codelcos molybdenum production dropped by 25 percent in 2006 to 60 million pounds this past year. Moly production could drop another 15 percent or more this year.

Because of the recent molybdenum price revival, dozens of exploration companies have suddenly become molybdenum companies. There are scarce few with a potentially viable project.

Those primary molybdenum producers and future producers weve been monitoring appear to be moving their projects forward.

Thompson Creek is Thompson Creek. This has emerged as the primary primary player in North America while the world waits for Climax to come online again. Some believe the companys Davidson moly deposit in British Columbia may not arrive on the companys timetable. If so, then this could further pressure the moly price.

Roca Mines should become a producer during July. But, this company also hopes to expand its operations deeper and should also commence those exploration efforts this summer. In the interim, the high-grade molybdenum found at the companys MAX mine should become a cash cow in the third and fourth quarters of this year. And for several years forward. Although the company is not yet in production, there appears to be no scarcity of molybdenum traders clamoring for the companys future production. Another indication of a tight market.

Last month, Adanac Molybdenum Corp ordered its long-lead time equipment for the construction of its mining and milling complex at Ruby Creek. Expenditures totaled nearly C$40 million, for which the company has made its down payments. Also, some time this summer, Adanac should finally receive its permits and commence construction. While the company boasts of 220 million pounds of molybdenum, a recent chat with Adanac consultant Ken Reser suggests Ruby Creek have more pounds than was previously thought. Ongoing drilling results could later confirm this speculation.

We continue to watch United Bolero as a promising development company in Montana. We were told drilling at Bald Butte began over the weekend to upgrade the resource category. Hopefully, the drilling program will also move to its nearby Cannivan Gulch property. Historically, but not technically documented, major miners, who worked these properties in the previous moly cycle, estimated the companys properties could host more than 400 million pounds of molybdenum.

Primary producers, such as these and possibly others, is what molybdenum end-users are depending upon to meet their needs as we approach 2009, 2010 and beyond.

Over the course of this summer, well further study other potential near-term producers, such as Moly Mines and others.

Conclusion

Many in the industry have warned us about the potential increase of moly dumping by the Chinese. Historically, China has helped chill out molybdenum prices in the past. According to Adams, as noted earlier in this article, China could become less of a factor.

Fundamentally, this should not be a concern. Typically, a country is indirectly focused on the background of its leading politician. In Chinas case, the eight members of the Politburo Standing Committee Chinas most powerful politicians are all engineers. All are graduates of engineering or technology schools.

Chinas president was trained as a hydraulics engineer. The premier is a geologist, who also has a degree as a mining engineer. The former vice-premier was trained as an electrical engineer, as was the propaganda chief. The Secretary of Political and Legislative Affairs was trained as a metallurgist. Others hold degrees in thermal engineering, radio electronics or electronic motor design.

Engineers like to build things. China has embarked on the greatest industrialization period in history, dwarfing the construction of infrastructure of the late 19th century in Europe and North America. Because molybdenums applications include architecture, energy, petroleum refinement, coal conversion, chemicals and other industrial applications, we would not be surprised if China soon announces the strategic importance of molybdenum (as it has uranium) and stops all exports.

Molybdenum also plays a strong role in numerous and diverse military applications. Globally, military spending reached $1.2 trillion last year. In 2006, China surpassed Japan as the largest military spender in Asia. The U.S. Pentagon estimates China could be spending up to US$125 billion this year. At least ten varieties of ballistic missiles are deployed or in development. Our preliminary research into this subject confirms the large percentage amount of molybdenum utilized in missiles. In some applications, the moly content is greater than 20 percent.

In summary, every time we delve into a new area to investigate demand for the molybdenum application, we find growth. Strong demand could surprise many stock and industry analysts over the next decade. In the meanwhile, more primary molybdenum producers need to come forward. Unlike some, we dont believe the molybdenum story has yet been fully revealed. This summer, we hope to make the molybdenum market more transparent both on the demand side and the supply side.

COPYRIGHT 2007 by StockInterview.com. All Rights Reserved.

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Welcome to the September 26, 2006 edition of investing carnival.

Tyler McKinna presents How to Choose Dividend Growth Stocks posted at Skinny Investor.

A Samuel presents Talkback Msn Money Low Cost Airlines Part 2 posted at Nubricks.com: A daily shot of off plan property launches & new development news.

Brandon Peele presents Freakonomics Book Review posted at GT.

Business

Aleksandr Kavokin, MD, PhD presents How do they use you as guinea pig? Part3 posted at RDoctor Medical Portal, saying, “infroamtion about clinical trials regulations”

Dan Green presents Did the Fed fake out the markets in an attempt to slow down the economy? posted at The Mortgage Reports, saying, “When the Fed couldn’t slow down the economy using rate hikes, they may have resorted to a psychology play instead.”

Steve Faber presents Internet Ad Revenue Growth Slower – Is That Indicative of Something Bigger? posted at DebtBlog.

RealEstate

Joshua Dorkin presents Pinnacle Development Partners LLC Under Investigation posted at Real Estate Investing For Real, saying, “This story is very important for anyone considering INVESTING in real estate with Pinnacle Development Partners”

Stocks

goldguru presents Riding the Biodiesel Boom with Nova posted at goldguru.

FMF presents How High Mutual Fund Fees Can Cost You Millions (Another Reason You Should Love Index Funds) posted at Free Money Finance, saying, “Another reason to invest with index funds.”

HeJustLaughs presents Why reinsurance companies like MRH are the place to be. posted at HJL Money Blog, saying, “HeJustLaughs explains why he thinks reinsurance companies like MRH are the place to be right now.”

Peter Kua presents How to make $1,000,000 in the stock market automatically posted at RadicalHop.com.

That concludes this edition. Submit your blog article to the next edition of investing carnival using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

Welcome to the November 28, 2006 edition of festival of investing.

Trent presents When Zell Sells, We Listen posted at Stock Market Beat.

Paul presents How to deal with information overload posted at Paul, saying, “A couple of people have sent emails asking me to write about information overload. It seems that a lot of you are drowning in data at the moment, and need some sort of direction about which way to swim. I’ve thought about it for a bit, and here’s my conclusion.”

Alvaro Fernandez presents Emotional self-regulation and biofeedback: FreezeFramer posted at SharpBrains: Your Window into the Brain Fitness Revolution, saying, “Post on how biofeedback can be used by traders to manage emotions and reduce impulsivity.”

Alvaro Fernandez presents Enhancing Trader Performance and The Psychology of Trading: Interview with Brett N. Steenbarger posted at SharpBrains: Your Window into the Brain Fitness Revolution, saying, “Interview with Brett Steenbarger, expert in trading psychology and performance”

Mister Juggles presents 2×2 Matrix: Less & More posted at Long or Short Capital.

David presents The Truth About Rich Dad Poor Dad – What Robert Kiyosaki Does Not Want You to Know posted at Worldwide Success, saying, “Robert Kiyosaki is one of the most prominent financial advisers today. He has published 18 books which have sold more than 26 millions copies. The first book in the “Rich Dad, Poor Dad” series has been on The New York Times Best Seller List for five years, and has sold more than 11 million copies. Given his popularity, I am probably going to get a lot a heat for what I am about to say, but I will always strive to provide you with an unbiased opinion regardless of its popularity. In my opinion Rich Dad Poor Dad is full of non-sense and bad advice.”

That concludes this edition. Submit your blog article to the next edition of festival of investing using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.