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Monthly Archives: February 2014
The Digital Revolution vs. the Industrial Revolutions
Lately economists have been comparing today’s digital revolution to the first industrial revolution (1790-1860) and the second (1870-1930). This granular, micro-economic analysis is a welcome respite from the absurdly abstract macro parlor games played by Keynesians and their adversaries. Three … Continue reading
The Meaning of Martha Ann
In 1791 in the state of New York was born Martha Ann Rogers, severely deformed. In the place of arms she had “two diminutive stumps projecting but a few inches from the shoulders.” She had “but one leg, which was … Continue reading
Posted in Uncategorized
Tagged freedom, history, personal independence, special needs history, statism, welfare state
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Three Stock Picking Themes
Investment themes—social and economic trends that provide “tail winds” for certain companies—can last for years and years. Washington is abuzz about “income inequality,” which I highlighted as an investment theme in the late 1980s, advising clients to avoid the “mediocre … Continue reading
Four Equity Errors
Secret NIH-funded research at the Wharton School of Finance in Philadelphia has demonstrated that prolonged exposure to the stock market permanently impairs the prosencephalon diecephaion subthalamus, the part of the human brain that governs good sense and logical thinking. I’m … Continue reading
CBO Highlights ObamaCare’s Assault on Social Mobility
The new CBO Report further underscores a point we have been making for several years—Obamacare hurts employment growth in many ways: CBO concludes that the equivalent of nearly 2.5 million jobs will not be filled because if you earn too … Continue reading
CEO’s Say the Global Economy Is Strengthening
Sometimes I am clueless about what is driving stock prices. In September 2008 I did not sell a share even though my commute took me past the Lehman Brothers building on 7th Avenue, which was being both swarmed by rabid … Continue reading
Posted in Uncategorized
Tagged corporate CEOs, emerging markets, global GDP growth, profit growth
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