Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca

. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Friday, September 30, 2005

Perceptions and Risks

In the Global Spin, published today by Hahn Investments, there is a lengthy diatribe about the uses and misuses of statistics [h/t to Jack]. It concludes,

While we may have waxed somewhat philosophical in this issue of the Global Spin, it nevertheless partly illustrates why we have embarked upon a cautious course for all the portfolios under our stewardship over the past year. We have been responding to heightening risks … and our interpretations of the fairy tale “statistics.” These may not be as popularly perceived, but to us the facts say that the risks are presently high and real.
The risks they see are the global explosion of debt, coupled with an inflation of the money supply. More reasons to go liquid. Consistent with this view, JJ says, "a realistic goal for the next decade may be to avoid losing money."

Going liquid: Ms. Eclectic recently brought home several bottles of "The Six Isles", a premium blended scotch. She doesn't much like it, but I like it at least as much as I like Cardhu. So, it appears, do others. No, I do not keep a bottle of it in my office.
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