After an unexpected report of a year over year drop in Chinese exports of -8.5%, the Chinese government, literally overnight, devalued its currency, by just under 2%. Translation: The Chinese government reduced the value of its currency, which makes the price of the goods it produces cheaper/more attractive to foreign buyers. For example, a Chinese product that … Continued
The title of this blog is a quote from a January 17, 1924 speech by then President, Calvin Coolidge. According to Wikipedia, the ultimate assessment of his presidency is still divided between those who approved of his reduction in the size of government programs and those who believe the federal government should be more involved … Continued
Short-termism refers to an excessive focus on short-term results at the expense of the long term. Numerous politicians, on both sides of the aisle, and most recently Hillary Clinton, have sought to blame the weak economic recovery over the last several years, on the perception that corporate America is consumed with an effort to maximize … Continued
During the 1992 presidential elections, a wealthy individual ran a substantially self-funded presidential campaign as an independent, in competition with the established parties’ candidates, George H. W. Bush and Bill Clinton. The impact of Ross Perot’s run on the eventual outcome remains a subject for debate, with no clear consensus as to which of the … Continued
According to a recent article in The Wall Street Journal, researchers at University College London have, using new satellite data, concluded that the total volume of sea ice in the Northern Hemisphere was well above the average in the autumn of 2013, after an unusually cool summer. This is an interesting and potentially important finding. … Continued
According to Wikipedia, predatory pricing is a pricing strategy where a product or service is set at a very low price, intending to drive competitors out of the market, or create barriers to entry for potential new competitors. The objective of this strategy is to eliminate enough competitors to allow monopoly pricing in the future. … Continued
This declaration was part of a justification on the part of Greece’s Education Minister, Aristides Baltas, for his plan to return control of Greek universities to students. This may work for Greek higher education, or not, but investors would be well advised to continue to carefully consider management when committing funds. The importance of management … Continued
According to Wikipedia, in the United Kingdom and in some other places, the “silly season” is the period lasting for a few summer months typified by the emergence of frivolous stories in the media. In U.S. politics and life styles, the “silly season” is the period from early summer until the first week of October … Continued
Successful investing is not rocket science. Morgan Housel, a columnist at the Motley Fool, recently wrote in The Wall Street Journal, “Live below your means. Save the difference. Invest in a low-cost, diversified portfolio. Have a long-term outlook and be patient as compound interest works its magic.” This is an exceptionally clear and concise guide … Continued
With major defaults looming for Greece and Puerto Rico, and concern regarding Illinois and numerous U. S. cities, much has been made of profligate borrowers. All of this coming after the major collapse in the U. S. residential mortgage market. How about irresponsible lending? Did anyone really believe that lending money to homeowners, without adequate … Continued
The Chinese stock market has drawn world attention from the recent sudden, sharp, and violent drop in share prices. Yesterday, the China Securities Regulatory Commission announced prohibitions from certain investors selling shares of stock. The objective, of course, is to stem the selling pressure which is causing stock prices to plummet. The desired effect is … Continued
Does the Supreme Court look at public opinion polls? This is not a new question, but recent decisions may reflect, in the opinion of some, an increased awareness of the “big picture” as opposed to a literal reading of the constitution. This is a question that is not likely to be resolved, but will probably … Continued
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