Life is too short, too precious, too painful

to waste on worldly bubbles. read more »

If you threw a brick inside any Federal Reserve building, chances are you’d hit a professor. Ben Bernanke came to the Fed from Princeton, Janet Yellen was a professor at the Haas Business School at Berkeley (she’s still Emerita), and almost everyone in any important policy position at the Fed is a former academic, and soon will be an academic again. read more »

Suppose you are the proud owner of a US core stock portfolio. If I asked you what that portfolio was worth, what would you do? If you’re like most people, you’d check the price of each stock, multiply that times the number of shares you own, then add it all up. “$1 million,” you’d proudly announce. read more »

In my last two posts I sneered (and sneered again) at the notion that folks at the top of the professional food chain could ever be replaced by a machine. I was cruising along, secure and happy in my ignorance, when a friend sent me an email.(1) “You better click on this link,” said my friend. read more »