If writing about music is like dancing about architecture, then explaining about Trump is like sneezing about hermeneutics.
Well, the best-laid plans…
I’d intended to interview the contestants in our little investment contest to get their take on the markets and on how well or badly they, personally, had navigated the various challenges those markets had offered. I was especially interested in what, if anything, the contestants had learned. But I was mainly thwarted.
Bull Markets and Bear Markets are such momentous events that they tend to fixate investor attention to the exclusion of more important matters. Most people, for example, would define a “market cycle” with reference to Bulls and Bears.
So far in our increasingly exciting investment contest it’s been a positive experience all around. For the first three years the capital markets rose relentlessly: a modestly positive first year followed by two terrific Bull Market years. But things are about to change.
Last week we observed how our investment competitors fared as they navigated a boring, so-so market environment. But this week things get more interesting.
Last week we asked Mr. Market to establish the playing field for our investment contest. This week we’ll check in to see how our contestants are faring.
On the last day of March (last week), we launched our own, far more interesting version of March Madness, namely, an investment contest.
I’ve been in the business of advising wealthy families for forty years. (Actually, it’s been longer than that, but I’ve reached the age where everything gets rounded down.)
Without courage all other virtues are useless. Edward Abbey, Desert Solitaire
Headline of the future: “Oat Bran – the Silent Killer.” (Woody Allen or David Letterman, I forget which)