Sunday Central Banks are the equivalent of the Central Planning Committees of the old USSR and present-day China. They specialise in distorting markets such that sane investing is disincentivized and speculations leading to capital destruction are incentivized. Anger against central banks is rising, and spreading, and rightly so. But they operated with the … [Read more...]
Stock Market Reality Show
Sunday Kanye West has bought stocks which beat the market by 40{781366457d9c05ca9285c5eb3e04ac75968647e24436986cab65f74e6f4b3aad} over the last year. How do I know? It’s on the front page of Yahoo Finance today. That struck me as reducing the serious business of investing in productive enterprises in order to obtain a return to the level of a television Reality … [Read more...]