Historically, motor fuel taxes have been a significant source of revenue, with most of the receipts committed to road construction and maintenance. Today, governments are aggressively promoting the development and purchase of electric vehicles (EVs). As the number of EVs on the road increases, motor fuel tax receipts have started to dwindle. Over the next […]
Read MoreThis line from Kenny Roger’s song “The Gambler”, summarizes the most difficult part of the investment process, admitting you made a mistake and taking your losses. Many investors often tend to close their eyes rather than confront the facts. This problem is not limited to individuals. The financial pages are littered with examples of some […]
Read MoreAccording to Wikipedia, money is any item of verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. As a practical matter, money is what the government says it is, or isn’t. The People’s Bank of China recently said […]
Read MoreSubjective: based on or influenced by personal feelings, tastes or opinions. Objective: expressing or dealing with facts or conditions as perceived without distortion by personal feelings, prejudices or interpretations. In politics and academia, but not sports, there seems to be an increasing trend toward subjective evaluations when objective results don’t provide the desired outcomes. That […]
Read MoreWe have previously discussed the issue of definition for funds purporting to offer an emphasis on focused investment themes. See our blog of April 14, 2021 titled How Many Raisins in a Box of Raisin Bran, in which we suggest that the fund manager decides what is a raisin and what isn’t. Now the European […]
Read MoreThis comment was attributed to a Wyoming company in February 1973. Energy prices were rising, but toughened environmental laws prevented finding more energy sources. Various iterations, some of which were not suitable for general viewing, became popular in Texas during the 1973-74 energy crisis. Now we seem to be seeing Deja vu all over again, […]
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