“Will the onset of this potential crisis be the force that tells the bureaucracy that business as usual is over?”

Good morning and welcome to the end of civilization as we knew it. Just kidding, but wow – what a stunning development in Europe. Even some of the people who voted for Brexit are telling reporters it was just to vent, they never thought it would actually happen. Welp… Anyway, last August, with the markets…

It’s a mess out there.

he moves we are witnessing right now show just how vicious asymmetric risk can be.

the most direct economic consequence of political instability…

“Far more money has been lost by investors preparing for corrections than has been lost in corrections themselves.”

Morgan Housel did a thing where he asked a bunch of us for simple advice…

chart

Pipey!

Returns looking out a few weeks / months have been shown to be double the average.