Shah Gilani: "The markets are always speaking to us..."

| White Listing Instructions|

Former hedge fund manager Shah Gilani is widely considered an expert on the credit crisis. He not only called the implosion of the U.S. financial markets, he also predicted the historic rebound that began in March 2009. And he did both on the record. To help new Money Morning readers get to know Shah better, we sat down with him to discuss his investment views, background and why he likes writing for Money Morning... What would you say your investing mantra is? Look, listen and learn. Everything changes. Look at what's happening around you, to your investments, in the world. Listen to the markets; they are always speaking to us. Learn to take profits and cut losses. How did you get interested in investing? Like many humble beginnings, where necessity is the mother of invention, I was trying to figure out how to make money without having any to start with. I studied the paths of successful people and figured out that I could make money with other people's money. Tell us about your background... I was born in London. We lived in Surrey, England and moved to New York when I was 10. We eventually settled in the Hamptons, which I consider home. I put myself through school, at UCLA, and then set out for Chicago to trade with the gunslingers. And, the rest, as they say, is history. There are a few details in-between, but they're better told over drinks. How did your background shape your investment philosophy? Because we moved a lot, I was always in new situations. That taught me to observe what was going on around me, to not force myself or opinions on anybody, but to look, listen and learn. If you approach life that way, you understand people, psychology, fear and greed, in others and in yourself. And those are the prime motivators that drive investing styles and markets. What is one thing your readers don't know about you? I love children and dogs. Why did you start writing for Money Morning? It bothered me that no-one was telling the public what was really going on behind what I call Wall Street's velvet rope. Keith Fitzgerald [Money Morning's Chief Investment Strategist] is an old friend of mine and he offered me Money Morning as a pulpit to get the truth out. Tell us about your favorite investment gain... the pick you are most proud of. I have a few really. The crash of '87 presented me with an opportunity to buy a huge quantity of bonds that were being dumped in the panic. The next month made for a very, very good year. And, of course, the credit crisis was a huge opportunity to make another killing. I was on record in February 2008 calling to short Freddie, Fannie, all the banks and all the investment banks, but that was fairly obvious. Writing the lead story for Money Morning in March 2009 that the market had bottomed was a call I'm proud of because it was far from obvious, but generated some handsome gains. What was your shrewdest market call? Can you ask me that next year? I feel its coming. Editor's Note: Shah's shrewd analysis of the global markets has earned him a loyal following. Now you can get his specific recommendations on how to profit in the ever-changing global economy in the The Money Map Report. To welcome you to Money Morning, we'd like to offer you access to our entire portfolio of investment recommendations, in-depth monthly briefings and continuous portfolio and market updates for half off the publisher's price. Go here to find out more... Money Morning: You are receiving this e-mail as a part of your free subscription to The Money Morning E-Letter. Remove your email from this list: Unsubscribe To cancel by mail or for any other subscription issues, write us at: Money Morning Attn: Member Services 105 West Monument Street Baltimore, MD 21201 © 2010 Money Morning All Rights Reserved Money Morning· 105 West Monument Street · Baltimore, MD 21201 North America: 1 888 384 8339; Fax: 1 410 223 2650 International: +1 410 230 1200; Fax: +1 410 223 2650 Website: http://www.moneymorning.com Nothing in this e-mail should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investment advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. Protected by copyright laws of the United States and international treaties. This Newsletter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of: Money Morning. 105 W. Monument Street, Baltimore MD 21201.