Sent Home I’ve always been intrigued by Burning Man. I have never gone nor do I ever expect to go, but I am nonetheless fascinated by the annual gathering. I’m not sure I ever really bothered to understand what Burning Man is all about, other than walking around the desert naked and getting a sunburn. So I looked it up and it seems there are ten guiding principles: • Radical inclusion – all are welcome…
Calling Bullshit Today it has been announced that SXSW, the South By Southwest music/film/media festival in Austin, that has been held annually without interruption for thirty three years has been cancelled this year due to the Coronavirus.. Today, the Italian government has indicated that it is locking down Lombardy and a few other surrounding provincial areas to contain the virus at the potential cost of massively hobbling the Italian economy, where Milan and Lombardy are…
Beauty and the Beast When I wake up now, my routine after my most basic ablutions is to go into my study (conveniently located off our master suite) and check on the state of my world. I start by understanding how much sleep I have gotten. My CPAP machine nicely records that, and while I like to get seven hours, I’m satisfied with anything over six (I have yet to go much over eight and…
Fear and Greed The markets are all the talk of the town this week in this and every town. It is not about a a bunch of market participants going paranoid out of extreme forecasting anxiety. As I heard Rachel Maddow say this evening, the markets are merely acting as a window on the rather extreme impact that the Coronavirus (COVID-19) is starting to have on the world economy. Let’s take a quick survey. We…
Self-Insuring During my career on Wall Street, I had occasion to become an expert of hedging and insurance. Let’s be clear about what I mean by an expert. I founded and ran our futures and options subsidiary thirty-five years ago when hardly anyone understood futures and options and very few in the financial world other than traders and commodities people even understood what hedging really was all about. This was the precursor to the derivatives…
Decoupling I love that word, decoupling. You can go in so many directions with it. Icvbnt can be the bucket of cold water thrown on two dogs to stop them doing what they do (I witnessed that one day during my youth in Maine, when a huge dog got “stuck” tying to exploit a smaller dog that had kegeled itself into protective rigor). It can be a long-overdue divorce that has waited for the kids…
Battery Math Today I went to a battery fair here in Escondido. I was invited by Baker Electric, the premier electricians here in Southern California, who installed my solar system last year. They were joined in this extravaganza, replete with free donuts and mimosas and great swag (umbrellas, string backpacks and notebooks with pens) by the strong and mighty Tesla, the dominant maker of home batteries. Naturally, I had to drive to the fair in…
Storage Stuff Today the moving truck arrived with our stuff from NYC. To be totally accurate, it arrived in two 24’ trucks, one with furniture and one filled to the brim with boxes. These trucks appeared on time at 8:00am (they drove down from their terminal in L.A.) and came with six very nice moving guys who stayed and went above and beyond helping us with rugs and moving furniture. They were on site for…
A Dangerous TV Table How easy should you make your life? I am never quite sure how I feel about that issue. There is a fine theoretical argument that says that struggle is the grit that makes for a better life. But then that’s all very theoretical. Who would make their life harder when they can make it easier? Not very many people I know. And how exactly does one discount that future “better” state…
Beaten by the Market I am spending more and more time these days working as an expert witness in investment management cases. One thing keeps coming up over and over again and that is the value or lack thereof of active management versus passive management. In simplistic terms, for readers who are not financially-focused people, the simple issue is whether people can consistently beat the market or whether the market will always dominate and make…