Truer Words Were Never Spoken Written “Poor policy and incompetent leaders are creating massive systemic risks, and modern markets can concentrate and change their focus instantly ” for all the right reasons, for no apparent reason, or for some combination of the two.” (my emphasis) –Paul Singer, founder of the $17 billion hedge fund Elliott...Read More
“For Sale” Homes, Wine, & First-Run Movies Some things become richer and more valuable with time. Fine wine. Love. Collectibles like antique cars or rare paintings. A home for sale isn’t one of those things. Rather, a home on the market is like a newly released movie. The most fanfare accompanies the “premiere,” when the...Read More
Recession, Uncertainty Hammer Big-Ticket PurchasesWhat to know what’s selling today? Not big-ticket items. On a scale of 1-10 (1 is the lowest, 10 is the highest), here is a shorthand — mine — for the magnitude of various consumer (and business) purchase decisions. Just like the Richter scale, this scale is logarithmic, kind of (8.0...Read More