I started in business school during the spring of my senior year in college by taking a few of the first-year courses. To be fair, I had taken economics courses for four years already by then, but economics, while connected to business, is simply not the same. So, for all intents and purposes, I have been thinking about the finance business since 1975, a full fifty years at this point. Wall Street tends to bifurcate…
In 1983, 42 years ago, I was sent by my bank to work on the downtown trading floor, in a building named BT Plaza, which sat next World Trade Center 2. I used to call it the shortest 40-story building in the world…because of its next-door neighbor. Not to be too dramatic or foreshadowing, but it is also the building that in 2001 got a 17-story gash down its northern side from the collapse of…
As I have mentioned in previous stories, I am scheduled to head off to New York City on Sunday for a trial in which I will be giving expert testimony on a case that started in the middle of 2022 and which I have put about 330 hours of time on since then. This is the case that I was contacted about in mid July and told to start preparing for trial due to start…
Do you remember when you were in college or business school and it was steady week? At Cornell they used to give us about a week in between the end of classes and the start of final exams. That week was called study week and of course some people (those that were diligent), would use the week to review all of their course notes so has to be as well prepared for their exams as…
I first became aware of Mercedes Benz as a vehicle in 1965 when I moved to Maine. The daughter-in-law of the owner of the Poland Spring Resort, Tudi Feldman, drove a classic Mercedes sedan around the rural hilltop in mid-Central Maine. I’m not sure in those days anyone knew what to make of it. Most locals were still engaged in the Ford v Chevy wars and foreign imports were still a small part of the…
I have mentioned both before, but not in one story, but my two gurus these days are Heather Cox Richardson, the historian from Boston College, who lives in Maine, and Scott Galloway, the marketing professor who teaches at NYU’s Stern School of Business in New York, lives in London and hails from Los Angeles. The two of these great minds blend many of the life thoughts that have guided my life (I lived in Maine…
I’m not sure why, but I have always thought about routine menial labor. Gardening has some aspects of that, for instance if you are raking a large leaf-strewn lawn or spreading large amounts of mulch around the property, but the common aspect of what I am talking about is repetitive work that almost sends you into a trance by virtue of its numbing sameness. Strangely enough, I have always felt that this sort of activity…
Why are some people risk takers and others not so much? Why am I even thinking about risk in the middle of the night, might be an even better question? But risk is a funny two-edged sword that we all confront on a daily basis whether we realize it or not. Risk tolerance varies dramatically between people due to a fascinating interplay of biological, psychological, and environmental factors. Biological influences play a significant role. Some…
Inherited wealth has been a defining feature of human societies throughout history, shaping social structures, economic systems, and political power dynamics across civilizations. In early agricultural societies, the concept of inherited wealth emerged alongside private property ownership. Ancient Mesopotamian, Egyptian, and Greek civilizations developed sophisticated inheritance laws, with wealth typically passed down patrilineally. Roman law established detailed inheritance frameworks that influenced Western legal traditions for centuries, including concepts like wills, trusts, and legitimate heirs. The…
As I have mentioned in various past stories, I subscribe and read faithfully the National Geographic magazine. I find its array of stories extremely consistent with my interests. Those interests are about the world around us and especially about the history of our world and our species. My generation was taught Western Civilization in school and while that ethnocentrically ignored a great deal of world history (especially Eastern Civilization), it did tend to start with…