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I recently found and purchased a copy of The Boston Globe from August 9, 1974, announcing then-President Richard Nixon’s resignation. The paper contained several political cartoons that were written for exactly 34 years ago, but could have been imagined for today. They detailed the weak economy, high food and fuel costs and political scandal.

Tribune Company recently sold Newsday, Long Island’s daily newspaper, to Cablevision, a cable, TV and Internet company headquartered on Long Island. While the future of the newspaper business remains uncertain, perhaps a company with considerable assets (Cablevision owns Madison Square Garden, the Knicks and the Rangers) can breathe some new life into it.

Everything we do here at Cabot comes down to one basic principle--trying to make money by using knowledge of how the market actually works. Most people think they know how the market works, or how it should work. I’ve already made every mistake in the book (and still find new ones), but I’ve learned enough to understand that the way the market works, and the way people think it works, are vastly different.

Even the best money managers suffer from the demon of poor performance, but that doesn’t mean they’re washed up. If you’re in a rut, take a step back and re-evaluate--but by no means should you lose your confidence. My sense is that too many investors are throwing in the towel here, so my advice is to keep your powder dry here and don’t focus on everything that’s going wrong. That way, when the time comes, you’ll be ready to buy, just when most investors have sworn off stocks for good.

Planning a trip to go out West in advance has proved troublesome, as the flights keep getting moved around by the airline—causing me to sprout some gray hairs. To keep my mind off the stress caused by the constant changes, I’ve answered some of our reader’s most frequently asked questions.

Lots of analysts work hard at trying to figure out what equity markets are going to do. These people pour over interest rates, unemployment figures, inflation (both producer and consumer), GDP growth and a trillion other statistics to try to predict how the U.S. and global economies will perform in the short, medium and long terms. It’s a fun exercise. The trouble is that, to quote George Bernard Shaw, “If all the economists in the world were laid end to end, they still wouldn’t reach a conclusion.”

The economic development of China has been one of the biggest business stories of the 21st century. With enormous reserves of cheap labor, a centralized government that can implement economic decisions quickly, and a real flair for capitalism, the country has become the factory for the world in an amazingly short time. As a result, growth of China’s gross domestic product has topped 10% a year for more than a decade.

Something I’m always concerned about it how we’re communicating with our readers. One way that I stay informed is by reading blogs. While I was brainstorming about how we can better communicate with you and vice versa, I began to think that a blog might be the way for us to reach out to our readers, while at the same time hearing what you have to say. So after hammering out the details, I am pleased to announce the creation of The Iconoclast Investor (iconoclast-investor.com), a place for the Cabot editors to share their thoughts and you to share yours.

The most dangerous way to sell short is to pick a hot little stock that’s “way overvalued” and bet that it will come down. Such a case in recent weeks has been American Superconductor (AMSC), a company that recently found new life by entering the market for wind energy. For the past five months, AMSC’s chart, in climbing from 16 to 45, has rewarded investors who were long on the stock, and it has punished short-sellers ... despite the broad market being unsupportive.

We got a great response to Wednesday’s Cabot Wealth Advisory about Peak Oil, and many of the responses are reproduced in today’s issue.

Cabot Stock of the Month Report is a great publication for people new to investing, or new to Cabot. It gives subscribers a taste of five of Cabot’s newsletters, allowing them to decide which investing system is right for them. By offering something from each of Cabot’s publications, it introduces you to several different investing systems, helping you decide which one is right for you. It also provides a diverse selection of stocks.

Since I was child, Memorial Day has meant a canoe trip on the Ipswich River here in Massachusetts, and that’s where I am today, enjoying nature, unplugged. A small part of the day, as always, will be devoted to honoring those who made the ultimate sacrifice. But for me, a larger part will be devoted to wondering whether war will ever become obsolete as a tool for conflict resolution. In the long term, I’m optimistic that mankind will eventually evolve to put the practice of war behind us. War is destructive, and I’d rather be productive. But I’m not holding my breath.

The topic is Peak Oil, the theory that global oil production will peak somewhere between 2006 and 2010 and then decline “until all recoverable oil is completed within several decades.”

Redoing a kitchen proves that making Green choices is easier than expected, despite the hype surrounding it. Environmentalists oppose Greenwashing by wine jug makers and real estate developers trying to sell their products as earth-friendly. And a Chinese biodiesel offers investors a great opportunity in a growing area.

Three very different expressions of love took place during two weddings and one engagement, providing an opportunity to learn life, and investing, lessons. The conclusion: Everyone has to do things in their own way. Finding your belief system and sticking to it will produce better results in the end.

Value investors must determine the true worth of a company before deciding whether it is a good buy. The same philosophy can be applied to politicians, as Warren Buffet demonstrated when he backed Senator Barack Obama for president.

Most investors, even those with lots of experience, usually do the wrong things and avoid the right things in the market. The reason isn’t because they’re dumb, it’s because the market is a totally contrary animal, so it works the exact opposite of how any intelligent, reasonable person would expect.

Today I want to review the expansion and subsequent shrinking of the Internet stock universe, and then relate that to the growth of today’s alternative energy stocks. The best time to invest in a sector, such as Alternative Energy, is when it is uncategorized and indistinct.

I recently visited Ruth’s Chris steakhouse in Boston for a wonderful meal. Despite the stigma of being a chain, every meal has been absolutely terrific. Ruth’s Chris (RUTH) just came public in 2005, but has since slid from the mid 20s to 6 1/2. Revenues have grown fairly consistently, but earnings were cut in half during the fourth quarter, and projected to shrink some more this year. The stock just hit a new low today! Thus, I think it’s a good idea for any steak lover to visit one of the premier steakhouses in your area every couple of months. It’s a real treat! But when it comes to investing, the message is clear: Enjoy the steak, but avoid the stocks.

Wedding planning provides a time to learn lessons that can be applied in the market. And Canadian Solar is looking good, as it’s growing lightning fast, but it’s only owned by 20 mutual funds, making it a higher risk/reward situation.