“Damn the torpedoes, full speed ahead!” – Admiral Farragut (paraphrased), August 5th, 1864 In the final year of the American Civil War, as part of a larger effort to blockade Confederate ports, Admiral Farragut entered the heavily mined port of Mobile, Alabama. Tethered, underwater mines were known as ‘”torpedoes” in those days. As his fleet … Continued
Most people are familiar with the popular 1939 movie The Wizard of Oz. Far fewer, however, are familiar with the deeper storyline of the original book written in 1900 by Frank Baum as both a children’s novel and a parable about money reform in the late 1800s. It also addresses the corresponding Midwestern political movement … Continued
“The problem with QE is it works in practice but it doesn’t work in theory.” – Ben Bernanke’s quip in his final public appearance as Chairman of the Federal Reserve One of the more dangerous phrases used in the investment world is ceteris paribus. All else is seldom equal and the market’s core narrative … Continued
“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.” – Warren Buffett With Halloween fast approaching, it appears the stock market has decided to let one of its seemingly long lost goblins out of the closet – volatility. While most of us would prefer to … Continued
“You wish to surrender to me? Very well, I accept.” – The protagonist Westley in the novel The Princess Bride In the novel The Princess Bride, later made into a cult film, The Dread Pirate Roberts is not one person but several characters who successively take the same name in turn. The arrangement thrives because … Continued
Many Americans seem to have a love affair with Europe, but following several choppy years that included a long recession and a sovereign debt crisis, many investors have taken the region off their radar screen. Without question the countries that make up the E.U. vary wildly, yet when combined they represent the largest economy in … Continued
The greatest trick the devil ever pulled was convincing the world he didn’t exist.” – Keyser Söze, from the 1995 film “The Usual Suspects” When censors first sat down and watched the movie Psycho, they deemed it to be too violent. In response, Hitchcock reviewed with them the violent scenes frame-by-frame. To their amazement, there was … Continued
“Under current law, on Jan. 1, 2013, there’s going to be a massive ‘fiscal cliff’ of large spending cuts and tax increases. All those things are hitting on the same day, basically. It’s quite a big event.” – Ben Bernanke There is always a lot to be said for keeping things simple, and it is … Continued
“If you want your children to be intelligent, read them fairy tales. If you want them to be more intelligent, read them more fairy tales.” – Albert Einstein Fictional narrative storytelling is one of the most memorable and effective ways to teach a lesson, capture a universal truth about the actions and consequences of human … Continued
“It was on this day when a solemn vow was made that the peacock became the great object of admiration, and whether it appeared at the banquet given on these occasions roasted or in its natural state, it always wore its full plumage … before all the assembled chivalry … and each made his vow … Continued