Understanding the Crisis

As the months are going by, we’re slowly building a better picture of what went wrong and why. If you want to only spend two hours on figuring out the financial crisis, then listen to this interview with Charles Calomiris, and read this interview with Raghuram Rajan.

Statists and Power

As mentioned in my previous post, most businessmen will do anything they can to preserve their position.  This extends to people in all realms.  Whether manufacturers, farmers, financiers, academics or politicians, those who wish to preserve their power will promote as many measures as necessary to do so.  In the case of those in . . . → Read More: Statists and Power

Online Retail Sales Up 4% Year over Year

Online sales rose 4 percent during the November and December holiday period, reversing last year’s decline, according to the market research firm comScore.

The heaviest online spending day in history came on Tuesday Dec. 15, when online shoppers spent $913M. For the full holiday online shopping season, $29.1 billion was spent creating a 4% . . . → Read More: Online Retail Sales Up 4% Year over Year


The most important decision an investor can make is what to use as the numeraire. But few investors even know what a numeraire is let alone have put deliberate thought into choosing their numeraire.  With advances in technology using a reliable numeraire is easier than ever.


Investing is the process of allocating . . . → Read More: Numeraire