Disclaimer

Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. I do make mistakes, but I try hard to do my analysis thoroughly, and to make sure my data are correct. Remember: the unexpected sometimes happens. The expected does too, but all too often it takes longer than you thought it would.

The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Sunday, September 22, 2013

Serendipitous coincidence

The day after I did the post about global warming leading to rises in sea level, my sister in South Africa sent me this photo.  It shows Beach road in The Strand, a town I often visited (I used to surf further along the beach, to the right of this picture)  I haven't been there in 30 years.

The newspaper article about this flood suggested it was rain, but as you see, the entire beach is covered and the waves are breaking over the sea wall embankment and the dual carriageway which lines the beach.  There has been heavy rain, and as usual, parts of Cape Town (the poorer parts, as so often) have been flooded.  But to achieve this kind of flooding from rain, one would expect to see strong currents between the buildings (high-rise apartments and hotels along the waterfront) and as you see there are none.  The floodwaters would be flowing over the concrete sea wall out to sea.  The flow is the other way.

Sea levels are rising.  Steadily.  Inexorably.  Disastrously.  While the world fiddles about carbon emissions.


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