Looking Backwards … LB #1 We have discussed the unsustainable fiscal path that the United States is on, and this was pointed out by Moody’s when they warned about our credit and possible downgrades, but now there is another agency that is shining the light on the US. The IMF had their big meetings in …
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Looking Backwards … LB #1 On Saturday, Iran sent dozens upon dozens of drones and missiles toward Israel in response to the Israeli bombing of their top commander in Syria last week. The US has sent air defense forces to intercept incoming aerial projectiles and the Israeli Iron dome defense seems to be getting the …
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 …
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 …
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 …
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 …
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 …
Looking Backwards … LB #1 Forgive and indulge me for this first part that is called reading greatness acknowledging greatness. “Charlie Munger – The Architect of Berkshire Hathaway Charlie Munger died on November 28, just 33 days before his 100th birthday. Though born and raised in Omaha, he spent 80% of his life domiciled elsewhere. …
Looking Backwards … LB #1 I find Donald Trump to be a very poor martyr. I think he is a liar, a cheat, and someone that uses bankruptcy laws as his own walled garden from actual financial responsibility and ability. I don’t think any parent would want their child to grow up and act like …
Looking Backwards … LB #1 On Dec 13, 2023, we wrote that we had our worries about AI living up to the hype calling it another inaccuracy, always insensitive, and as intended. That insightful piece about laziness and inaccuracy needs a refresher. Matt Barnum wrote for the Wall Street Journal about how AI is failing …