The neighboring towns of Nogales, Arizona and Nogales, Mexico figure prominently in the work of Daron Acemoglu and James Robinson, who, together with a colleague, won this year’s Nobel Prize in economics. In their book Why Nations Fail, Acemoglu and Robinson explain that these two border towns are [...]
Of Concern?
From the Colosseum in Rome to the palace at Versailles, look around Europe and you’ll find artifacts of once-great empires. What happened to them? Each faced its own challenges, but there was also a common theme: They had poor financial management and became overburdened by debt. That’s why a [...]
Change in plans
In 2014, an investor asked Charlie Munger—Warren Buffett’s second-in-command—why he wasn’t investing in Apple. Munger responded that, “No matter what their financial statements showed,” he’d never have a high degree of confidence in the company. “It’s just too hard.” Buffett agreed. But things [...]
