Journal
November 2022
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Having, wanting, and the history of bull markets
Good Morning Ladies and Gentlemen «After a time, you may find that having is not as pleasing as wanting. It is not logical but is often true». Spock, Star Trek, Season 2, Episode 1 – Amok Time, 1968 Dinner with friends I had this interesting discussion with friends over dinner. Four couples, tasty food, great […]
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Precious metals-backed cryptocurrencies
Good Morning Ladies and Gentlemen «Happiness is contagious; spread it!» (from a fortune cookie) Once in a while, I receive emails with questions about cryptocurrencies. For example, one reader argued that cryptocurrencies backed by precious metals would be tangible. Another reader asked me if governments/central banks could issue cryptocurrencies out of thin air. Of course, […]
Oktober 2022
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Realism and Reason
Good Morning Ladies and Gentlemen «No one left to their own devices can be rational enough to come to consistently reasonable conclusions.» (Steven Pinker) Interest rates Yesterday, the European Central Bank lifted its base rate by 0.75%. This move was widely expected. Next Wednesday, November 2, 2022, the next Fed meeting will occur. Again, a […]
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Greed & Fear – Casual Conversation with John
Good Morning Ladies and Gentlemen I sometimes get the impression that I am always reading/watching the same narratives. Now, I understand journalism is, by definition, cherry-picking. It reports on rare events, such as wars, epidemics or catastrophes, not on everyday life, i.e. peace, health and security. This tendency towards negativity is exacerbated because journalists fight […]