The Dance of Death
Illustrations for this web site are taken from the series of paintings created by Kaspar Meglinger between 1626 and 1635 known as "The Dance of Death". The paintings are under the roof of Lucerne's Spreuer Bridge (completed in 1408) and bring forcibly to mind the transitory nature of life on earth. All "The Dance of Death" illustrations can be clicked for a larger photo.
The March 2014 Monthly Market Commentary (MMC) was published on the MMC subscribers only section and emailed on 1-Mar-2014.
"Without Work, Life is Rotten, but when Work is without a Soul, Life dies."
Lucy Kellaway argues in the Financial Times that the idea so beloved by “the cheesier half of corporate America, that employees are somehow part of the family is one of the most delusional metaphors of modern corporate life.”
However, I also advise my younger readers who come out of school or university to first work in a successful company in order to learn the ins-and-out of an industry. And while working for a company, it is important to make the best out of it either by joining or by forming a “fake family.” Some of your colleagues will be close friends for life even if you work somewhere else, while others will become your customers or will be in a position to help you in many different ways (the Goldman Sachs people seem to be very good in this respect). In fact, whereas my life improved after starting my own business (although I worked harder than when I was an employee), the one and only thing that I occasionally miss working on my own is the daily interaction with colleagues or as Kellaway puts it, working and living within a “fake family.” Another point I wish to make about corporate life is this: Corporate life is usually not particularly pleasant. But since most people will work all their lives as employees of companies and therefore, spend more time at work than at home, they can greatly improve their working lives (and their performance) by having a cordial relationship with their colleagues and superiors. Personally, I actually believe that most people have a better relationship with their co-workers (their fake families) than with their spouses at home.
In early January 2014, I opined that, “It might seem to my readers counterintuitive to have a position in 10-year Treasuries, and at the same time to believe that commodity prices could rebound.”
My webmaster informed me that we shall shortly be launching our entirely new www.gloomboomdoom.com website.
Our services will remain unchanged. In the first few days of every month, the Market Commentary will be emailed to all our subscribers and published to the “subscribers only” section on www.gloomboomdoom.com.
Now to the more serious staff:
My friend Joseph Glass kindly wrote for us an essay entitled Homeland inSecurities, A Case for Divestment. Glass is deeply concerned about the abridgement of freedom of people by gradual and silent encroachment by those in power. I think it is an excellent albeit very disturbing read, which should provide food for thought to all our friends who have younger children. After reading Joe’s essay you will realize that I am not exaggerating when I opine that , “we are all doomed.”
Another friend of mine, Fernando Del Pino sent me an interview he had with the value investing publication called The Manual of Ideas. Our readers who are interested in value investing will appreciate his views and learn from his investment strategy. One sentence caught my attention: Del Pino: “I love cash. Of course, holding large amounts of cash makes no sense strategically, but it does make an awful lot of sense tactically, even when our extravagant central bankers make it so hard, having arbitrarily killed the notion of risk-free return, and created an ugly-looking monster called return-free risk.”
|Important legal information - please read the Disclaimer before proceeding.
© Copyright 2014 by Marc Faber Limited - All rights reserved.