Tag Archives: Invisible Hand

Excellent George Will Column on the Hyperactive Regulatory Environment

I found out last week that in my industry, the new Dodd-Frank law says that if I decide to manage investments in separately managed accounts (SMA) for my investors in addition to the private investment fund that I currently manage, it will trigger … Continue reading

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Market Valuation, Deus Ex Machina, and Volatility

We have written several times to say that the market in general is overvalued based on earnings (the CAPE) and book value (Tobin’s Q). Even after the recent selloff, the market is still well above long-term averages. However, astute market … Continue reading

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Frank Stonach Meets John Galt

It is rare to hear the Chairman of the Board of a public company publicly trash government bureaucrats, especially one from a car part manufacturing company, which is heavily dependent on government regulatory approvals. But, here is Frank Stonach, Chairman of Magna, an … Continue reading

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Why are there Few Entrepreneurs?

Two recent Wall Street Journal pieces highlight our current poor economy. The first recognizes that entrepreneurship is on the decline. Shrinking in a Bad Economy: America’s Entrepreneur Class By JOHN BUSSEY Imagine a small airstrip where single-seat Continue reading

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Left in the Dark–How Regulations Encroach on the Private Sector

As readers of this blog know, I believe the regulatory burden imposed by federal and state governments is largely to blame for the stagnation in the US and elsewhere. That burden includes the large amount of things government spends taxpayer money on–such … Continue reading

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A Major Economics Lesson in a 5-Minute and 10-Second Video

View, in 5:10, practically everything you need to know about the efficiency of free markets and how freedom leads to rapid improvements in your standard of living (H/T: CafeHayek.com): The most convincing argument in favor of free markets is to … Continue reading

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The Great Minds Think Alike Department

If I am correctly reading the notes taken by the Inoculated Investor (http://inoculatedinvestor.blogspot.com/) at Charlie Munger’s annual meeting recently, then Munger is a big fan of Matt Ridley’s Rational Optimist too. The Google document: https://docs.google.com/viewer?a=v&pid=explorer&chrome=true&srcid=0B7X_KYnqpniZNTY4YjdkY2UtNjU5Ny00ZmYxLTg0YWItODJkMWY0ZjBhNzA1&hl=en_US I disagree with the conclusion … Continue reading

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Vitaliy Katsenelson’s Blog

I have just added VK’s Contrarian Edge to the blogroll. VK has strong opinions, but backed up with many facts. He has an interesting tid bit in today’s post: China consumes two-thirds of the world’s production of iron ore. Given the … Continue reading

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Realists versus Pessimists

I have been writing for several weeks that I would write a review of Matt Ridley’s The Rational Optimist. I believe it is the most important book of 2010 if only to shake us out of the rigid pessimism brought on … Continue reading

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Free Markets: The Cure for Social Ills

Without getting too political, I suspect that too few understand that free markets cure more ills than even the best progressive policies initiated or funded by government. For your reading pleasure:  The Man Who Saved the Whales By WARREN MEYER Nov. … Continue reading

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