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
Plenty of Coal . . . But Last Coal Mine “The last deep-pit coal mine in the U.K. plans to shut its doors here next week, heralding the end of a centuries-old industry that helped fuel the industrial revolution and build the British Empire.” –“England Closes Its Last Coal Mine“; The Wall Street Journal (12/11/2015)...Read More
