Speaking of Fads From The 1970’s
I came in this morning to see the Missus watching this….. Remind me to take the batteries out of the remote to stop such future abominations…
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Whats Worth More
Yesterday I was having lunch in Brighton and was somewhat bored because the weather was not encouraging use of the local boat ramp which is the greatest source of free entertainment in the world. Particularity in Brighton where a sense of self entitlement allied with copious amounts of plastic surgery, bad hair transplants and way…
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What Pokemon Go Taught Me
Other HL Menckens often paraphrased quote that nobody went broke underestimating the intelligence of the general public. The real lesson from such things lies in what they tell us about investors and group behaviour. What initially piqued my interest in this little phenomena was the sense of permanence people attach to events that are transient.…
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Gutnick Goes Bust
I read with interest last week that Joseph Gutnick had gone bust; apparently he owes some $275 million to various creditors and has about $15 to his name. I read this with a touch of nostalgia because it was Astro Mining that got me started in this business more than three decades ago. It also…
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Your Favourite Pet Rock
Now that gold has shown a little bit of life along with the various other precious metals my junk mail folder is awash with the requisite number of peanuts trumpeting that gold is the single best investment class in the history of the universe. Which is at complete odds with reality that gold is neither…
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How “Amexit” sent shockwaves through the financial markets
Great little graphic on the impact of the American Revolution on the British share price index. More here – The Economist
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How To Make It
From the archive of the Lefsetz Letter which although proclaiming to be about the music industry talks about much more. DESIRE Making it can’t be some thing, it’s got to be the ONLY THING. You’re gonna want to sacrifice, but you’re gonna have to forgo more than that, miss out on parties, on social rituals,…
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Some Days A Rooster, Some Days A Feather Duster
I was reflecting on this post where I looked at the yearly return for stocks in the S&P/ASX50 and I wondered what one of the more ordinary examples would look like if I played around with missing the best and worst days of the year. I actually knew in advance what the shape of the…
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