Systems thinking: The Legacy of Steve Belichick.
“Do not permit your interest to be aroused to the point that you become a spectator. This will hinder, and often prevent you from obtaining essential information.”
“Do not permit your interest to be aroused to the point that you become a spectator. This will hinder, and often prevent you from obtaining essential information.”
The basic rule with CEO’s is sell the cover. As soon as they make Forbes, Fortune or Time, their time is probably up. Short the mag cover!
A random walk in the past – Diversity, death by 1,000 cuts – Corporate governance, just keep borrowing - AI, Actual Implementation - Elon Musk, a misunderstood guy. Summary: Diversity,…
The 1930’s all over again. In the city where I grew up, the massive bank induced expansion of 1880 to 1930 created an army of very wealthy people. Buffalo was…
Low rates have created huge structural imbalances. Economics without accounting is voodoo – Life in a frog pond - Low rates and disappearing equity – The cancer in the system…
Summary: We believe professional money management is going to die a slow ugly death. This will cause extreme stress on the banking system and Wall Street. But this doesn’t have…
Reengineering your existence will be possible only for a very small minority that has the ability, foresight, balls, and opportunity. In a way, one has to become a kook. To…
A quick look at long rates. US corporations are going to cliff dive. To put it briefly, the average duration of a corporate bond is 21 years. The average life…
It's time to rediscover it. Summary: The purpose in this letter is not to lecture on the church, but to show how thinking has changed in the last 2 millennia. It’s…
The FED can’t go forward or back. If they raise rates (Or keep them high) they’ll wipe out mid-sized banks who are sitting on huge commercial loan portfolios. If they…
Corn is the essential cheap calorie. https://tradingeconomics.com/commodity/corn The US produces one ton of corn for every man, woman, and child in the US every year. The key factors in corn…