A few days ago the stock market again hit a new all-time high. But instead of feeling unalloyed glee, many investors seem to be struggling with mixed emotions. They are, of course, thrilled at their gains. But at the same time, they are hesitant to invest further into a market that has already [...]
King of Polka
If I told you the story of Jan Lewan, you might think I was making it up. Born in World War II-era Poland, Lewan emigrated to the United States and settled in rural Pennsylvania. Gregarious and musically gifted, Lewan soon achieved small-town fame as “The Polka King of Northeast Pennsylvania” and [...]
An uncomfortable question
A few years back, a fellow named Wylie Tollette faced some uncomfortable questions as he sat before the public oversight committee of the California Public Employees Retirement System (“CalPERS”). As the pension fund's Chief Operating Investment Officer, Tollette was responsible for updating the [...]
From 47th Street to Wall Street
My grandfather was from Queens. He was a great guy, and he taught me a lot. He was also a native New Yorker, so he was street smart, and he was tough. Among the lessons he taught me, this one stands out: One day, while we were walking together down 47th Street, near Times Square, I stopped to look [...]
From Wimbledon to the broom closet to bankruptcy
Sometimes the most surreal things happen. For example, anyone who remembers the 1980s tennis prodigy Boris Becker may be shocked to learn that last month, in a London courtroom, Becker was declared bankrupt. After winning Wimbledon and countless other tournaments, Becker's personal fortune was [...]