Looking Backwards … LB #1 Tom Hanks’ character Jimmie Dugan once signed an autograph “Avoid the clap, Jimmie Dugan” in the movie A League of their Own. His advice is timeless because some things once caught are tough to get rid of. Inflation is the financial equivalent of a sexually transmitted disease. It is hard …
The Golden Arches are a symbol of McDonald’s, or golden arcs if you are a fan of McDowell’s, but mostly they are a symbol of Americana. They represent fast food, quick delicious, with the best breakfast value in the world, well before this last inflation hit and now a pair of breakfast burritos will set …
Backwards … LB #1 Today we start off by mourning the death of an intellectual giant. Daniel Kahneman was, is, and forever will be the godfather of behavioral economics. He and his friend Amos Tversky upended economics in proving that people don’t actually respond to complex situations rationally. They dislike losing more than they enjoy …
In the wee hours of March 26, 2024 a huge container ship called the MV Dali slammed into the Francis Scott Key bridge in the Baltimore harbor causing the bridge to fall into the bay. The bridge spanned the Patapsco River and was a vital shipping port on the east coast with easy access to …
Looking Backwards … LB #1 When the Fed left interest rates unchanged and said that their dot plots still see an average of 3 cuts in 2024, the markets rejoiced. Remember when the Fed said they would cut three times 5 months ago and the market melted higher in on of the quickest rallies in …
As we wait for the market to come down from the pharmaceutical driven high it must be on, after melting higher despite CPI higher, PPI higher, retail sales worse etc. In these bubbles, logic and reason are a casualty for awhile and it looks like forever in times like this. However, it is just camouflaged …
Looking Backwards … LB #1 College Fix writes that the mission statement has changed at the United States Military Academy at West Point. You will remember on December 10, 2022 we wrote extensively on this very site with high admiration for the academy and the ability to turn out fine human beings as leaders for …
It’s hard and lonely being the lighthouse, but it is easy to be the sea and go with the flow. The lighthouse must be sure of himself, anchored in his beliefs, and a beacon for others to see. They are indispensable for navigation during storms and protect ships and keep them from capsizing on the …
Looking Backwards … LB #1 A few weeks back, I called the end of New York Community Bank. I was wrong. The market managed to save itself, but on Wednesday it appeared the end was near again. The stock, which was already down 60% in the last year, was down 25% or so and trading …
“The only thing you should remember is that everyone else is either reckless or inept. Usually both.” Margaret Thatcher I needed to begin with a little Maggie Thatcher to maintain my sanity. I grew up learning that the KISS principle stood for Keep it simple stupid not realizing they were referring to me, but someone …