November 25, 2010 –
Although I attended a prestigious university and worked on the floor of the world’s busiest futures exchange, the best investment advice I ever received came from my grandmother, Esther Shlensky, who died earlier this week at the ripe old age of 106. [more]
November 24, 2010 –
Given the opposing views of the potentially parsimonious new Congress and the continuously accommodative Federal Reserve, there is a movement afoot among Republicans to eliminate the Fed’s “dual mandate.” Prior to 1977, the Fed only had one job: maintaining price stability. However, the stagflation of the 1970s inspired politicians to assign another task: promoting maximum employment. This “mission creep” has transformed the Fed from a monetary watchdog into an instrument of social policy. We would do well to give them back their original job. [more]
November 22, 2010 –
I posted this the other day in response to someone's blog, and thought that perhaps enough people didn't get the chance to read it for whatever reason. So, I repost this story today because it's both comical and has a very good lesson to be learned, at least in my opinion. [more]
November 09, 2010 –
While it’s true that history repeats itself, the patterns should always be separated by a generation or two to keep things respectable. Unfortunately, in today’s economic world, it seems the cycle can be counted in months. [more]
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