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Winning

Winning in 2021 Play each point as if it’s the only point. “What will it take to “win” in 2021?” This is the wrong question. Thinking you can “win” or “lose” implies that there is an outcome completely within your control....

Portfolio Strategy

Fixed Income Strategy: I own a basket of fixed income securities that are publicly traded on the New York Stock Exchange. The securities include Ticker                          Company                                Current Yield AINV                            Apollo...

The biological revolution

The coronavirus will accelerate the third great innovation revolution of modern times. Beginning about 100 years ago, three fundamental components were discovered: the atom, the bit, and the gene. Understanding the atom led to atomic bombs and nuclear power,...

A New and Different Credit Crisis

Supply Shocks and Demand Disappearance: The World Needs A Bridge Loan The Fed Does Not Have the Arsenal The US economy is facing a transitory, but critical, credit emergency beyond the Fed’s normal scope. A new federal credit facility is needed to ensure that...