There are many events that should cause us to learn, but no one seems to be paying attention. These are things in my notebook. All are interesting, but not providing enough for a full article. If you spend a minute thinking about these questions, you will be a stronger investor, but there might not be […]
Sometimes investors focus so closely on each economic data release that they completely lose perspective. This is especially true of those who criticize the measurement of inflation. Their arguments have a superficial plausibility and earn some undeserved media attention. The story about the "clueless BLS" is always popular. No media source does the work to […]
We all love a winner! It is so natural to admire those who have been the best at what they do. It is the essence of celebrity, and it is fun. As the basis for investing, admiring the recent winners is fraught with peril. Background I enjoy reading the work of Geoffrey James. In my […]
At the recent American Economic Association convention, PBS interviewed three economists: Joseph Stiglitz, Kenneth Arrow, and Yoram Bauman. If you do not recognize the last of these authorities, check out the video. Here’s a hint about the content. What are the three most dangerous words in the English language? “Macro-economists all agree….” and so forth.