Earlier this week, the president again criticized the Federal Reserve. Calling chairman Powell and his colleagues “boneheads,” the president expressed frustration that they haven't done more to lower interest rates. Specifically, the president said, we should, “get our interest rates down to ZERO, [...]
Burry’s warning
Earlier this week, an investment manager named Michael Burry made waves when he issued an apocalyptic forecast: Index funds, he said, are in a bubble similar to the housing bubble that ended very badly in 2008. Burry couldn’t say when that crash will happen but noted ominously: “The longer it goes [...]
The most useful tool
A dozen years ago, on my first day of business school, the professor stood at the board and illustrated a concept called “present value.” Truth be told, over my remaining time in school, I don’t think I learned anything more important than I learned in that first hour. It is, in my view, the single [...]
How not to waste time
Nikola Tesla was a brilliant inventor, with nearly 300 patents to his name. He also had some unique habits. Among them: Every night, before he sat for dinner, he would ask his waiter for a stack of 18 napkins. He would then use them to carefully wipe down his silverware. Even at the Waldorf Astoria [...]
Harry’s Warning(s)
On December 17, 2002, Harry Markopolos walked out of his Boston office wearing an oversized trench coat and a pair of white cotton gloves. His destination: the John F. Kennedy Presidential Library. A quiet figure, Markopolos worked as the chief investment officer at a small firm that specialized [...]
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