Quick note on Hurricane Laura and why it is heading toward the Louisiana/Texas border. Here is a look at the pressure map: Check out the big orangish blob over the east coast and Florida. That’s the Bermuda High. The Bermuda High is a blocking mechanism. Storms can’t go through it. Continue Reading
Does Inflation Deserve Its Bad Reputation?
How’s that for a provocative title? American policymakers have lived in fear of inflation since the 70s. But that’s nothing! The Germans have feared it for approaching 100 years! But is inflation really that bad? Certainly, uncontrolled inflation is disastrous. Nobody wants the Weimar Republic or Zimbabwe. But what if Continue Reading
Why A Vaccine Will Be A “Sell the News” Event
Markets go up every time there is favorable news on progress towards a vaccine. Common wisdom seems to be the only thing holding the market back from new highs is the lack of a vaccine and, once we get one, the market will rip higher as everyone celebrates the “return Continue Reading
Third Point Abuses Its Shareholders Again
In the annals of CEOs running their own personal fiefdoms without regard for the interests of shareholders, I’m sure there are worse stories than Third Point. However, there can’t be too many. Third Point just screwed its shareholders again with last week’s acquisition of Sirius. But before we address that, Continue Reading
The Power of Temporal Preferences
Yes, I understand the odds are your first reaction to this post is “what the blank are temporal preferences?“. Let me explain. Temporal is just a fancy word for time. So temporal preferences is the academic way of saying people have different time horizons when making decisions. Think of long Continue Reading