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. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. 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.

Friday, June 20, 2014

Goodbye, Miami



It's common for those who don't really understand climate change to say "oh well, I'm sure they'll think of something to sort things out."  Well, maybe they won't.  Read this fascinating piece on the difficulties Miami is already facing from rising sea levels.  Read past the first couple of paras, which are speculative though entertaining, and move on to the detailed discussion of the problems on page two and onwards.  The really depressing thing is that Florida's governor and elite are climate change deniers.  Despite the evidence all round them.  The 'she'll be right mentality'.  But she won't.

Cretinism.




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