Anonymity I am undecided about the concept of anonymity. Does it help to stay in the shadows? Is it humility in the best sense of the word? Or is it the ultimate hubris of thinking you are above the need for recognition? Is anonymity cowardly or brave in the most selfless way? Does privacy really matter as much as all the notices sent to us imply, or is it impossible in this day and age…
Experts to the Rescue I am six week into my latest expert testimony on a pension case and generated by my new Expert Witness Team of Italian/Spanish guys who have played in this field for others and are now launching their own gig. On the first case, which started in late November, I’ve put in over 41 hours so far. I like the way the team does this in that their billing rate is half…
Catching Up I had lunch with an old friend today. In actuality, this was a guy who worked for me on two occasions and worked with me on another project where he was positioned to be my #2 guy. He last worked for me twelve years ago, so since we have stayed in regular touch with one another, it is fair to say we are friends more than colleagues. There is a point in time…
Death of a Giant The news just came across this morning that Paul Volcker died yesterday at the age of 92. At 6’7” tall, he qualified as a giant of a man. But mostly, he was a giant to most of us who lived through the financial worlds of the 1970’s and 1980’s. His impact on the economic history of the United States and perhaps the world was matched by few men. As a man…
Cash Management What is cash? Cash is liquidity, money you can put your hands on at the moment you need it. In theory you want to keep only the money you absolutely need on hand in cash so that the rest of your money can be more productively employed in some form of compounding investment. I have said before and will say again that compounding is one of the greatest powers of the world because…
Virtual Reality More and more I am hearing of people who are working from home. I am unclear how I feel about this. Who among us hasn’t said something like, “I can do my work from anywhere.” There is a very big difference between occasionally working virtually on the fly, organizing your job so that you spend one way of the workweek at home for convenience, and closing down your office altogether and working entirely…
Life as an Outline In my story of several days ago I wrote of the sense of end of days as we approach yet another decade turning point. That got me thinking about the beginning of decades and what they have tended to portend. As I have reflected, I have found that there does, indeed, seem to be a pattern of optimism and new beginnings that accompany the start of a new decade. This may…
They Shoot Horses, Don’t They? In 1969, at the end of what seemed like a very long decade that began with great optimism and economic strength, the world was drifting into what would become the era of the stagflation of the 1970’s. We had shaken off all of our dreams of the pie-eyed sixties with Woodstock and the Apollo 11 moon landing. We were the racing dog that had caught the mechanical rabbit. We stood…
The Righteousness of Failure I watched a screener last night that my wife gets as a member of the SAG/AFTRA Nominating Committee. It’s the movie called Dark Waters starring Mark Ruffalo and Anne Hathaway and I have been seeing trailers of it lately, so I was anxious to see it. It comes nineteen years after Erin Brockovich showed the world the power of class action suits against corporate polluters. This excellent new movie has a…
Growing to the Sky Have you noticed that there is a lot more talk these days that involves the word Trillions? I see that the largest IPO ever, the public sale of the Saudi Arabian oil company called Aramco, is being debated as valuing the company between $1.5 and $2.0 Trillion. Let’s put that into perspective for a moment. Aramco is touted as the world’s largest company with revenues of over $350 Billion and…