Monthly Archives: August 2019

Hurricane Dorian: Wishin’, hopin’, thinkin’ and prayin’

Dorian-Saturday

Residents of Florida’s Gulf Coast (where I live) have woken up on Saturday morning to find their prayers answered, as Hurricane Dorian’s projected path has taken a sharp right turn. Fervent prayers from Florida’s northern Atlantic coast, on the other hand, are apparently still stuck in limbo. Those sentences are an expression of theodicy, “the justice of God,” or the… Read more »

Marginal investors and the sport of curling

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I have long compared professional investment advising to the sport of curling. The financial market is this heavy stone sliding down what seems like an inexorable path toward some destined end. But instead of the sport’s two sweepers trying as a team to influence the “curl,” or the direction of that stone, the capital markets employ tens of thousands of… Read more »

How credit card debt makes income inequality worse

Debt leverage

Debt financing is commonly called leverage for a good reason: The lever is one of the classic “six simple machines” we learned about in school. Using a long stick and a fulcrum, a lever trades distance moved for force, enabling the lifting of a heavy object, or, in a financial example, the purchase of a new car with little money… Read more »

Gun math you should have learned on Sesame Street

Two horrible mass shootings in a short amount of time this past weekend in El Paso and Dayton have unleashed the normal bad arguments and excuses. This a quick post about how to parse the worst ideas from the better ones. It starts with an annoying but important earworm from Sesame Street: One of these things is not like the… Read more »