“Experience is helpful, and often an impediment,” he said, just back from Silicon Valley, electrified. “We have very few good businesses in our industry. But those guys out there, they have good businesses.” Uber, Google, Facebook, Palantir; turning grey matter into green paper. He started his firm decades ago, when the entrenched hedge funds looked at investing from the top down. He looked at it from the bottom up.

“Russian missiles land in Iran en route to Syria, says unidentified American,” hollered the headline. Which is as frameable as it is huggable. You see, in a world filled with enigmas, we find comfort in cruise missiles. Because we generally know why they’re launched. We certainly know what they do. And depending on where they land, we almost always know what to sell. Or buy. Oil rallied 8.7%, leading a broad surge in

Out came the fluffer; an enthusiastic economist, frantically arousing the crowded room, bursting with limp Nikkei bulls. “One arrow can be broken,” he cried, snapping a single imaginary shaft with his hands. “Two arrows can be broken,” he teased, breaking them over his knee. “But three arrows?” taunted the economist, unable to break the bundle of arrows, no matter how hard he struggled. We sat, unstirred. You see, th

Overall: “We’re prepared. I need everyone to not panic,” tweeted Christie, panicking, as hurricane Joaquin wandered its way through the Atlantic. Haunted by memories of Sandy, the Governor stared at his big RED button. We all have one, and he pressed his; declaring New Jersey a State of Emergency. The problem is that tomorrow’s crisis never looks like yesterdays. Such a shame; we prepare so perfectly for what just ha

Hope all goes well… We rode bikes in the dark. Our paths weaving along the dead-end, six moon-shadows in hot pursuit. The eclipse had begun. Another tick of the celestial clock. We made our way to a little patch of grass, jutting out into Long Island Sound. Laid down, stared up. “The Big Dipper! Orion’s Belt! An Elephant! An Octopus! See the Giraffe?” A harvest moon, blood red. A little family, spinning in heaven. Ov

“Declining productivity rates,” he answered, after a long, thoughtful pause. We’d been discussing the interplay of technology and the global economy, emerging investment trends, themes. I finished by asking a favorite question: What in your world do you find most perplexing? You see, if you want an explanation for what just happened, ask an economist. If you want a forecast, ask a strategist. Explanations and forecas

“Our efforts must aim at restoring hope, righting wrongs, maintaining commitments and thus promoting the well-being of individuals and of peoples,” he told Congress. Like all the world’s great spiritual leaders, Pope Francis’ message was open to interpretation, universal, intended for all, his clergy especially. Because no organization built upon faith can endure while violating trust; and all organizations are built

Hope all goes well… “My propensity to save is extremely high,” he said. “Why do I want all this money?” he asked, rhetorically. “Don’t really know, but I just do, I want more.” I listened, smiling. “Maybe that’s because I’m worried.” We all have problems, but money couldn’t possibly be one of his. “I’m worried all the other money I’ve saved will disappear in a crisis.” He paused, laughed at the irony of this circular

Hope all goes well… “Don’t know what this all means,” grunted Bulldog, following the ultra-dovish Fed announcement, eyeing the S&P sell-off. “But it’s a whole lot of not-good.” We discussed scenarios for long-term bond yields. The possibility of steeper curves, as global central bankers are forced into more aggressive accommodation. If bond yields remain low, things should be fine. “But if long-term yields start

“No,” said my oldest. And I smiled as we walked; you see, he’s inherited my rage-against-the-machine gene. He’d spent summer training. Hours a day. Every day. Shooting, rebounding, running. And tried out for his favorite club; 3D Lacrosse. They passed on him. So he spent this week agonizing, alone in the yard, shooting in sweaty fury. Preparing to try out for a rival; The Chargers. An unexpected 3D email arrived; a s