Known Unknowns vs. Unknown Unknowns “Britain Stuns World With Vote to Leave E.U.; Cameron Plans to Resign, and Markets Fall.” –headline, NYT (6/24/2016). Is the British exit (“Brexit”) from the European Union — roiling global stock markets today — a Black Swan? I’d say “no.” Sell First, Ask Questions Later A Black Swan is an...Read More
“A Penny Not Spent on Gas . . is a Penny Earned,” or, “Houston, We You Have a Problem” “Oil’s Drop Spills Into Other Assets.” —Headline, Wall Street Journal (12/12/2014) You’d certainly think collapsing oil prices would qualify as a “white swan” event — an unforeseen, “three standard deviations” occurrence that most people would view...Read More
Goldman to Clients: You Shouldn’t Have Trusted Us If you didn’t know, Realtors’ owe their clients a fiduciary duty. What does that mean? Actually, quite a bit. The legal definition of fiduciary duty has two components: a duty of loyalty, and a duty of care. By definition, your Realtor knows more than you do about...Read More
