Part 2 of the Notes from the Road series, about the value of and problems with adaptive frameworks. In this installment, an exploration of…
Billionaires don’t buy media properties as vanity projects, because they care deeply about them as institutions, or for profit. They buy them because they understand the political and economic power of Fiat News.
Our liberty is our birthright, not granted to us by the State or the Oligarchs. It is not theirs to give. It cannot be taken away. But we can give it away. Don’t.
Everyone has their Lehman war stories. Everyone at least in their 30s, anyway. Here’s one of mine that was particularly formative for Epsilon Theory and our stories about stories.
Hunt’s Law – fake news drives real news out of circulation – is a perversion of Gresham’s Law about currency that applies everywhere today, even to Hunt. Especially when it comes to social media.
A refresher on the power of abstraction to devalue the real. Gresham’s Law: bad money drives good money out of circulation. Hunt’s Law: fake news drives real news out of circulation.
Every time Dick Fuld’s publicists succeed in getting a “redemption story” published in the WSJ or NYT, I’m going to write an ET piece about Repo 105. Its consequences for investors haven’t gone away, and neither should we.
The key to political and commercial success in a Widening Gyre? Controlling your own cartoon. In other words: if you don’t tell your own story, someone else will.
How much richer are we than we “should” be in the Great Financial Asset Bubble? Not you, I mean, you’re just as rich as you should be, of course. I mean everyone else.
Two short stories from the 19th century that teach us more about investing than any white paper. Although I suppose that isn’t saying much. What I’m saying is they’re good and you should read them. And this.