My former employer, The Economist, once the ever-tolerant editor of my flabby, disjointed, and juvenile prose (Thanks Peter and Marjorie), has released its “Big Mac” index of international currency valuations. Although initially launched as a joke three decades ago, I have followed it religiously and found it an amazingly accurate predictor of future economic success.
For many, one of the most surprising impacts of the administration’s tariffs on Chinese imports announced today has been a rocketing bond market. Since the December $116 low, the iShares 20+ Year Treasury Bond ETF (TLT) has jumped by a staggering $16 points, the largest move up so far in years. The tariffs are a
“The level of fact available from news services is way less than it once was,” said Roger McNamee, co-founder of venture capital fund Elevation Partners.
“Every smart guy is tempted by leverage, and some are broken by it,” said Oracle of Omaha Warren Buffett.
“Technology is going to be stealing market capitalization from other industries for the next ten years,” said Gene Munster of Silicon Valley venture capital firm Loup Ventures.
Thanks to China’s “one child only” policy adopted 30 years ago and a cultural preference for children who grow up to become family safety nets, there are now 32 million more boys under the age of 20 than girls. Large scale interference with the natural male:female ratio has been tracked with some fascination by demographers
Quote of the Day “A lasting relationship with a woman is only possible if you are a business failure,” said John Paul Getty, a Morgan Stanley billionaire client who was married five times.
The Diary of a Mad Hedge Fund Trader is read in 140 counties. About a quarter of our readers run the letter through Google Translate before reading. That has created a problem. Stock trading is probably the most slang- and acronym-ridden profession on the planet, second only to the United States Marine Corps. (Semper Fi).
I am basically writing this email to thank you so much for coming to Australia. Thank you again for sparing the time, for being present to hear our questions, for sharing your valued insights and knowledge, and in addition to all that, thank you for your friendship. As I said on the occasion, I was
“Success is the ability to go from one failure to another with no loss in enthusiasm,” said the wartime British Prime Minister, Winston Churchill.