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It takes just one person

Halfway through my subway ride home today, a panhandler walked into our car and started loudly asking everyone for money. This is not unusual in New York City. Naturally, these things always seem to happen under the most crowded of [...]  Read more

What Bear Markets Look Like

It’s hard to look at the price charts of the big crypto assets and not cringe. But it helps to look back to an earlier time, when a new sector was emerging, and understand what can happen. Amazon peaked in [...]  Read more

Tail Risk: China-US Relations

Wishing everyone a belated Thanksgiving. If you have some time today or over the weekend, I recommend watching this video of VP Mike Pence talking about the administration’s approach to China Then follow it by watching this video by Hank [...]  Read more

Communal eating

I’ve been thinking a lot about communal meals and eating lately. Partly because it’s the holiday season and there are more opportunities for large group meals than usual. And partly because I’ve realized that the older I get, the fewer [...]  Read more

Giving Thanks

Happy Thanksgiving Everyone. I appreciate the annual ritual of surrounding ourselves with family, making a big dinner, and enjoying all of that. I also appreciate taking some time to look back on things and be thankful for what we have. [...]  Read more

The last one to know

I’ve heard several times that by the time CEOs hear bad news, they are the last ones to know. And it’s their job (and responsibility) to act quickly. Most likely, as a CEO, by the time you hear any news, [...]  Read more