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The British composer and conductor H. T. Leslie (1822 – 1896) wrote that, “The game of life is not so much in holding a good hand as playing a poor hand well.” This is how investors in financial assets should feel about the current market conditions. At present, most assets are relatively expensive. With a few exceptions (gold miners, oil stocks…
At the 2024 WEF in Davos about Rebuilding Trust (who on earth would ever trust the Davos crowd?), the newly elected President of Argentina Javier delivered a speech, which must have made the majority of the attending Elite rather uncomfortable because of its simplicity and clear libertarian message: capitalism over the last 200 years lifted the…
Investor’s Business Daily recently reported that just four investors made $491 Billion On 'Magnificent 7' Stocks This Year. Referring to the Magnificent 7, Matt Kranz at Investor’s Business Daily (IBD), notes that, “the top owners of these seven winning stocks, including Mark Zuckerberg at Meta Platforms, Jeff Bezos at Amazon.com, Elon Musk at…
How meaningful the election of Javier Milei’s as president of Argentina will be remains to be seen but noteworthy is that a number of important commentators took up the subject of Argentina’s economic decline over the last 100 years or so with great enthusiasm. And consider the larger effect on trade and domestic economic growth during this…
“Human beings are born with different capacities. If they are free, they are not equal. And if they are equal, they are not free.” Aleksandr Solzhenitsyn “Our Enemy, the Government,” is the title of an article by Ramesh Thakur (Thakur, is a former UN Assistant Secretary-General), which I read with delight since it agrees with my deep belief that…
Last month, we discussed among others how important the BRICS meeting in South Africa had been. More recently, I was reflecting about the importance of the BRICS meeting in contrast to the just completed UN General Assembly meeting in New York City, where when the Green/Communist German Chancellor Olaf Scholz addressed the assembly, hardly anyone…
A recent Bloomberg Opinion piece by Matthew Brooker caught my attention. Its title read: Women's Football Is Just Starting to Roar. According to Brooker, “Australia’s semi-final defeat was the country’s most-watched television show on record, with 11.15 million viewers at its peak" - astonishing in a nation where rugby union, rugby league,…
A recent Bloomberg article entitled The Super Rich Are Snapping Up Tokyo’s New Ultra-Luxury Homes states that, “The lack of uber-luxury apartments in Tokyo, a city otherwise full of indulgent shopping choices, has long baffled foreign investors. But that’s starting to change as new developments with sweeping views, swimming pools and 24-hour valets…
America Still Leads But Its Allies Are Uneasy, is the title of a recent Bloomberg opinion piece by Niall Ferguson. I have some reservations about Ferguson as an historian but to be fair to him, he is extremely knowledgeable and he is well connected around the world. In his essay he writes, “An essential ingredient of leadership is an inspiring…
Bloomberg recently reported that Bernard Arnault who controls LVMH - which holds a portfolio of about 75 luxury brands, including Louis Vuitton, Tiffany & Co., and Christian Dior - took the hit to his wealth the same day LVMH shares fell 5% in Paris. “However, Arnault still ranks No. 1 in the Bloomberg Billionaires Index’s ranking of the world’s…
Marc Faber