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David Tepper Foretells End Of Bond Selloff Via Prophet Kernen
I allocate at least two hours each day to reading, where "reading" means serious reading. So, books
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“I think art is a creative, hopeful, optimistic position to work.” – Nicole, please meet Hieronymus Bosch… 🙂
If you haven’t read them, I can recommend “in praise of folly” by Erasmus and Montaigne’s Essays.
There is a reason why many of us (me at the front of the line) invest money rather than create and run businesses. Some of us might be really good at what we do and we think we allocate capital appropriately to create jobs, quality of life, etc but we ride the “horses” only. The “horses” do all the creative and execution hard work. I definitely feel intellectually inferior to the real creators of lifting people to a better quality of life. Staying humble is a good thing to try to remember though often it is more difficult than it should be.
I don’t think it’s necessarily a matter of intelligence. You might be more intelligent (as measured by IQ) than some ‘job creators’, whether successful entrepreneurs or big shot CEOs. We don’t quite know the formula for business success. It certainly requires some floor level in IQ to be reached but there’s so many more qualities that may be needed.
And never underestimate luck. Not just “when preparation meets opportunity”. Sheer, random, luck.
The pursuit of happiness is the only thing worth striving for. Modern medicine, food generation, actual productivity is based on producing an easier, thereby happier life. Market participants are critical, cynical rentiers. Mere cogs.
And interesting counter is that Keynes thought we’d work 3 hours only by now.
We aren’t.
Why?
God has to die first…..Moralism
Not God, but Calvinism.
And the myth of “self-reliance.”
I often find more wisdom in one episode of The Expanse than a whole day of watching CNBC.
expanse is an awesome show.
Hard to believe a yield of 1.6% on the US10yr is attractive to any “investor.” Doesn’t give one much confidence in the prospects for future growth. Maybe that makes sense for Japan, with its huge demographic challenges, but the U.S…? Rates will be going much higher here, in part because the Biden administration and a Democratic Congress are going to put fiscal to work.