This weekend I shared this Globe & Mail story about the hedge fund manager betting big against Canada, specifically the Canadian banking sector, housing market and the country’s currency. He sees a crisis coming for the real estate market up north that will wreck the economy. It’s an interesting view, but one that I think…
We’re Back, Baby*
THIS JUST IN: For the first time in eight years, America has all five of the largest corporations in the world by market cap. Sucks it, China. USA, USA, USA! Amazing graphic by BusinessWeek below, click to embiggen: Source: U.S. Companies Are Back on Top (BusinessWeek) * half tongue-in-cheek, relax. No need to…
Hot Links: Stock Market Chupacabra
Your morning financial links, expertly curated.
“absolutely out of control”
“I meet a lot of these people on Wall Street on a regular basis right now…I am going to put it very bluntly: I regard the moral environment as pathological. And I am talking about the human interactions . . . I’ve not seen anything like this, not felt it so palpably…They have no responsibility…
A master in the art of living
“A master in the art of living draws no sharp distinction between his work and his play, his labour and his leisure, his mind and his body, his education and his recreation. He hardly knows which is which. He simply pursues his vision of excellence through whatever he is doing and leaves others to determine…
Optimism as a Default Setting
“The man who is a bear on the future of the United States will always go broke.” – J.P. Morgan We begin with a story from one hundred years ago… From My Favorite J.P. Morgan Story by Mark Skousen: In the early days of the Twentieth Century, when J.P. Morgan ruled Wall Street, a visitor came…
Conan O’Brien, Barack Obama Bring the House Down Last Night
Video.
Economist President
Cartoon
Saturday Night Video: Dawes Will Rule Your Summer
I get a little mellow in the music department come this time of year and I think the band Dawes is going to be heavy in the rotation all summer long. If you’re unfamiliar, Dawes makes records in a note-perfect Laurel Canyon sound – the kind of rock that came out of the North Hills…
Systematic Mistakes
This is so key… *** An important differentiator between our selection process and the processes of the value managers we respect is the time and effort we spend on analyzing how psychological factors affect decision making. A number of different factors cause people to systematically make mistakes in judgement – just to name a few:…
