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 21, 2014


The Greenland ice cap is melting 5 times faster than it was just 15 years ago, and the West Antarctic ice cap 3 times faster.  This will increase the rise in sea level  to 4 inches per decade compared with 7 inches for the whole of the 20th century.  In fact, in the past, rapid meltwater pulses have raised sea levels 14 feet in a single century.

Time to DO something.

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