Empyrean Realms and Tawdry One-Arm Bandits: The Commandatore Comes to Dinner
The chart below uses data from the AAII portfolio survey, ICI assets under management, and the Fed’s own data on financial variables. Taking a perspective of forty years, one must conclude that investors live in empyrean stock realms, while systemically departing from...Paradoxes and the Agora
Once, Henry Kissinger observed that “the attempt to achieve the ultimate in a finite period of time can produce extraordinary disasters.” The agora of ideas demands the best possible answers. The agora of policymaking/strategy demands preparation for the worst...Coup d’ Oeil: Crossing the Waters of Wartime Investing
Louis XVI had his own Machiavellian vested interests in mind when he decided to assist in the American war for independence. His reward was a lost throne, a guillotine, and a number of un-Machiavellian claims related to universal rights. The French Revolution a few...Emulating Historical and Market Rhythms
The British Empire excelled in overextending itself in military, political, economic, and financial matters. Prior to that, at the turn of the fifteenth century, China was by all standards the most advanced civilization in the world. Around 1435, a movement of...The Middle East As a Reeling Cup
Before we present our analysis on the unfolding events in the Middle East, let’s state two things and ask a rhetorical question: First, as of the time of this writing (Monday afternoon), the war effects on both equities and bonds are not significant. Second, this...Sign Up for Our Publications
