After spending more than half a century in the investment business, I see all decisions boiling down to a single issue: Artificial Intelligence. Speaking to people at the local PTA, American Legion, the VFW, the Commonwealth Club, people sitting next to me at high school football games, and even my own readers, this is the […]
“There is no sign of a recession anywhere,” a major bank economist told me in September 2007.
“Whenever I hear someone in finance say that a one in two-billion-year event just happened, I say that you just demonstrated you have a model for measuring tail risk that isn’t any good,” said former Treasury Secretary and Harvard University President Larry Summers.
“Everything is expensive now. Worries about the future can cause safe assets to become highly priced … I call it the ‘Titanic Effect.’ When the Titanic was going down, people would pay a fortune for anything that floats. We may be in a Titanic situation now,” said my buddy, Nobel Prize winner Robert Shiller.
“Everybody talks about the Volatility Index (VIX), but the new fear gauge is the 10-year Treasury bond,” said Art Cashin of UBS Financial Services.
“I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones,” said Nobel Prize winner Albert Einstein.
“Send us your freaks,” said an Amazon human resources executive to a temp agency during its early days.
“The bulls have the run of the table here on oil,” said John Kilduff from Again Capital Partners.
Any trader will tell you the trend is your friend, and the overwhelming direction for the US dollar (UUP) for the last 243 years has been down. Our first Treasury Secretary, Alexander Hamilton, found himself constantly embroiled in sex scandals. Take a ten-dollar bill out of your wallet and you’re looking at a world-class horn […]
The onset of the pandemic found me on an obscure, deserted coral ridge in the Solomon Islands in a remote corner of the South Pacific. The jungle was lush, and malarial mosquitoes alighted in clouds. I was looking over the capital city of Honiara on the main island, whose name is honored by all the […]
