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.

Tuesday, October 15, 2013

Rational Economics

"Rational Economic Behaviour" is peculiar to market capitalism and is an embedded set of beliefs, not an objective universal law of nature.  The myth of economic man explains the organizing principle of contemporary capitalism, nothing more or less.

                                    John Gowdy, quoted in Sex at Dawn by Christopher Ryan & Cacilda Jetha

You can read more of John Gowdy's insightful views here.

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