Food Stamps and the Price of the Minimum Amount of Food in 1935 England and Today

October 15, 2013
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Catchy title, no? Anyway, between the government shutdown and the debt crisis, I’ve found looking at investments rather dispiriting, as the ensuing chaos in the markets would override even the soundest of analysis. So, I’ve been keeping my head down by catching up on my reading at least until this all blows over. One of […]


Hyperinflation – Cheer up world, it may never happen

August 8, 2010

I should make it clear at the outset of this article that I’m not an economist. But, like many people who begin their speeches with those words, I won’t let it affect what I have to say. I have made it clear in the past that I take a sanguine view of the possibility of […]


Be very very quiet. It’s earnings season (Chiquita Brands and Linn Energy)

August 1, 2010

Benjamin Graham gave two useful pieces of advice that are applicable during earnings season. First, don’t pay too much attention to the results of a single quarter. Second, when paying too much attention to the results of a single quarter, make sure that you strip out the nonrecurring events in order to get a better […]


The New York Times Indicator

September 7, 2009

John Maynard Keynes described speculation as essentially trying to guess what other people are going to guess, and doing it better than they guess how you’re going to guess. I think this also describes macro-level investing, i.e. allocating capital based on economic data. As I stated in my last article, focusing on a decent cash […]


Not afraid of inflation, but… (Rayonier)

August 2, 2009

With $787 billion in stimulus, $700 billion in TARP money, deficits projected to hit $1.8 trillion, the Federal Reserve cutting rates to effectively nothing, and Neil Barofsky, the government’s inspector general of TARP estimating a $23.7 trillion total risk exposure to the financial crisis, it is only natural to worry about inflation. Of course, that […]