Welcome to my website! The site is designed to provide easy access to my books, blog, journal articles and white papers. The content on the site is updated at least once a week, as my blog posts come out every Friday. Other site pages will be updated as new articles, white papers and books appear.

Most of my work has an investment focus, at least in the broadest sense. Good investors – those who preserve and grow their capital across the decades and generations – are educated investors. Whatever aspect of the investment process they are working on, they know the difference between best investment practices and whatever everybody else is doing. This site is designed to help you be that informed investor.

Here is a quick snapshot of what’s on the site:

  • My bio. In short, I’ve been advising very substantial investors since 1979. Many of the clients I work with today are the grandchildren of the folks I started with way back when. You can check out Greycourt, the company I founded, here.
  • My blog. A new post appears every Friday. As noted, the blog has an investment focus, but I interpret that very broadly. So far there are nearly 200 posts, i.e., almost four years’ worth of the blog. If you would like to receive the blog via email (it’s free), you can do so here.
  • My books. I’ve published three investment books, a book of poetry, and I’ve edited two other books. More to come!
  • Articles. I’ve published scores of articles over the years, including articles in refereed journals, white papers, and newspaper and magazine articles.

I hope you find the site useful and interesting. Please let me know what you think by contacting me here.

Recent Blog Posts…

  • In China, the Unraveling Begins

    In China, the Unraveling Begins

    It is time for the United States to stand up to China in Hong Kong. Elizabeth Warren Just for fun, let’s go back to 1842, which is when China “lost” Hong Kong. Most Westerners seem to think that the Brits had a 99-year lease on Hong Kong, that that lease … read more »
  • The Worst of All Possible Worlds, Part 3

    The Worst of All Possible Worlds, Part 3

    How do I loathe thee? Let me count the ways. I loathe thee to the depth and breadth and height My soul can reach… I loathe thee with the breath, Smiles, tears, of all my life; and, if God choose, I shall but loathe thee better after death. – What … read more »
  • The Worst of All Possible Worlds, Part 2

    The Worst of All Possible Worlds, Part 2

    We recall not too long ago when extraordinary monetary policies were reserved for recessions or financial panics. Lead editorial, Wall Street Journal Whenever I pull out the long knives for our friends at Fedecbboj, some of my gentle readers inevitably send me notes reading more or less as follows: “Come … read more »
  • The Worst of All Possible Worlds

    The Worst of All Possible Worlds

    Tout est pour le mieux dans le meilleur des mondes possibles. [All is for the best in the best of all possible worlds.] Voltaire, Candide In the novella, Candide, the cockeyed optimist, Dr. Pangloss, attempts to imbue his young mentee with Pangloss’s own incurable optimism. Candide does his best to … read more »
  • Modern Monetary Madness, Part 3

    Modern Monetary Madness, Part 3

    History is the most humbling of subjects. Wilfred M. McClay, Woodrow Wilson International Center As I’ve noted, the central thesis of Modern Monetary Theory is that a government that borrows in its own currency can never default, because it can simply keep printing money to pay its debts. Hyperinflation, says … read more »