During my eighty-seven years, I have witnessed a whole succession of technological revolutions. But none of them has done away with the need for character in the individual or the ability to think.”
April 22, 2015
It’s interesting to hear “experts” in the oil industry expound on the future price direction of oil. Often these interviewed experts are the CEOs of major oil companies. Many say the current price of oil ($50 a barrel) is temporary and will eventually trade back toward $100. But not one was prescient in forecasting the recent 50% decline. ...
March 20, 2015
Ever see a movie, or hear a song, and think to yourself, “I’ve seen or heard this before?” Well there is a new “movie” coming to Wall Street and I know I have seen it before. In fact, I saw the movie 50 years ago! One of the advantages of longevity is that you get to experience many things twice. This soon-to-be released...
January 12, 2015
The seemingly sudden collapse of commodity prices has made news in the press. Oil declined close to 50% in just a few weeks. The press claimed it was due to increased U.S. shale production and slowing global demand. While these two factors are valid, I believe, they are on the margin. What’s not on the margin: Americans...
November 10, 2014
“Ben, will you read this and tell me if anything jumps out at you … or at least surprises you,” I asked my seventeen-year-old grandson. We were in my Jeep heading to the golf course when I had handed Ben a copy of Investors Business Dailey. In the paper was an article about Rowland Macy, the founder of Macy’s Department Stores. Before...
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