I spent a few days last week in Manhattan meeting with lawyers and accountants.
On one hand, that doesn’t sound like a lot of fun. On the other hand, it was terrific.
New York has its Mojo back.
It could have been that there was so much energy, activity, and a sense of bigger things to come …
Or, it could have been this massive slice of bacon they serve at Peter Luger's.
I spent a few days last week in Manhattan meeting with lawyers and accountants.
On one hand, that doesn’t sound like a lot of fun. On the other hand, it was terrific.
New York has its Mojo back.
It could have been that there was so much energy, activity, and a sense of bigger things to come …
Or, it could have been this massive slice of bacon they serve at Peter Luger's.
Warren Buffett’s annual letter to Berkshire Hathaway shareholders is out.
In it, he speaks of opportunity. For example, he informs: “Our elephant gun has been reloaded, and my trigger finger is itchy”.
Buffett's annual letter is always an interesting read … even if you don’t agree with everything he says. There is a reason he is called “the Oracle of Omaha.” Even the introduction had a few of the ideas that jumped off the page.
“Money will always flow toward opportunity, and there is an abundance of that in America. Commentators today often talk of “great uncertainty.” … No matter how serene today may be, tomorrow is always uncertain.
Don’t let that reality spook you. Throughout my lifetime, politicians and pundits have constantly moaned about terrifying problems facing America. Yet our citizens now live an astonishing six times better than when I was born. The prophets of doom have overlooked the all-important factor that is certain: Human potential is far from exhausted, and the American system for unleashing that potential – a system that has worked wonders for over two centuries despite frequent interruptions for recessions and even a Civil War – remains alive and effective.
We are not natively smarter than we were when our country was founded nor do we work harder. But look around you and see a world beyond the dreams of any colonial citizen. Now, as in 1776, 1861, 1932 and 1941, America’s best days lie ahead.”
He later reminds: "At Berkshire, our time horizon is forever". That perspective makes it a lot easier for the game not to end until you've won.
Further, the Pragmatic Capitalist highlights this lesson:
Nothing stopped so many innovators and entrepreneurs more than the fear of failure. If you allow yourself to be constantly scared into thinking that the world is doomed you will never take that risk which might result in great reward. And perhaps worse, if you never fail you will never learn to get up, brush yourself off, move on and succeed in the future. This does not mean you should wander through this world with great complacency and blind optimism, but if you deny yourself the ability to maximize your full potential, you will always come up short.
Here is a link to what others are saying about this year's letter.
Warren Buffett’s annual letter to Berkshire Hathaway shareholders is out.
In it, he speaks of opportunity. For example, he informs: “Our elephant gun has been reloaded, and my trigger finger is itchy”.
Buffett's annual letter is always an interesting read … even if you don’t agree with everything he says. There is a reason he is called “the Oracle of Omaha.” Even the introduction had a few of the ideas that jumped off the page.
“Money will always flow toward opportunity, and there is an abundance of that in America. Commentators today often talk of “great uncertainty.” … No matter how serene today may be, tomorrow is always uncertain.
Don’t let that reality spook you. Throughout my lifetime, politicians and pundits have constantly moaned about terrifying problems facing America. Yet our citizens now live an astonishing six times better than when I was born. The prophets of doom have overlooked the all-important factor that is certain: Human potential is far from exhausted, and the American system for unleashing that potential – a system that has worked wonders for over two centuries despite frequent interruptions for recessions and even a Civil War – remains alive and effective.
We are not natively smarter than we were when our country was founded nor do we work harder. But look around you and see a world beyond the dreams of any colonial citizen. Now, as in 1776, 1861, 1932 and 1941, America’s best days lie ahead.”
He later reminds: "At Berkshire, our time horizon is forever". That perspective makes it a lot easier for the game not to end until you've won.
Further, the Pragmatic Capitalist highlights this lesson:
Nothing stopped so many innovators and entrepreneurs more than the fear of failure. If you allow yourself to be constantly scared into thinking that the world is doomed you will never take that risk which might result in great reward. And perhaps worse, if you never fail you will never learn to get up, brush yourself off, move on and succeed in the future. This does not mean you should wander through this world with great complacency and blind optimism, but if you deny yourself the ability to maximize your full potential, you will always come up short.
Here is a link to what others are saying about this year's letter.
Image by Getty Images via @daylife
So, here is a new Jeopardy Question?
"The name of the machine that first won on Jeopardy."
Answer : What is IBM Watson ?
You probably heard that IBM's supercomputer Watson crushed human champions Ken Jennings and Brad Rutter in Jeopardy this week.
Here is a link to The Jeopardy Watson minisite.
Jon Stewart joked last night that "Apparently they have run out of qualified human contestants for Jeopardy." Video below.
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| Intro – Watson Competes on Jeopardy | ||||
|
||||
The pace of technology is quickening … The future is so close you can build it.
Image by Getty Images via @daylife
So, here is a new Jeopardy Question?
"The name of the machine that first won on Jeopardy."
Answer : What is IBM Watson ?
You probably heard that IBM's supercomputer Watson crushed human champions Ken Jennings and Brad Rutter in Jeopardy this week.
Here is a link to The Jeopardy Watson minisite.
Jon Stewart joked last night that "Apparently they have run out of qualified human contestants for Jeopardy." Video below.
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| Intro – Watson Competes on Jeopardy | ||||
|
||||
The pace of technology is quickening … The future is so close you can build it.
Insider Transactions Show Lots of Selling.
According to Mark Hulbert, corporate insiders have been selling for more than a few weeks while the market has been going up.
While that means the people with the most inside knowledge are selling … it hasn't changed the fact that stimulus continues to push prices higher. Price is the primary indicator. While the torrent of insider selling is unmistakeably bearish, the market has ignored the less important measure.
Here is the insider transaction ratio based on data from Thomson Financial:
Meanwhile, while corporate insiders as a group are busy selling their company’s shares as fast as they can, they have no qualms about issuing buy backs of those same shares with the corporations money. According to Trader's Narrative, US share buybacks are at the highest level since the fall of Lehman Bros. Last week, $27.3 billion buybacks were announced – the highest since September 2008. Companies are continuing to use their massive cash hoard to repurchase shares.
This may make shareholders happy and drive per share earnings growth but many fret that this is a sign that performance is once again being artificially manufactured instead of earned through profitable performance or growth. According to research from Citigroup, 37% of the per share growth of earnings in the S&P 500 may be traced back to buybacks if they match last year’s pace.
Business Posts Moving the Markets that I Found Interesting This Week:
Lighter Ideas and Fun Links that I Found Interesting This Week
Insider Transactions Show Lots of Selling.
According to Mark Hulbert, corporate insiders have been selling for more than a few weeks while the market has been going up.
While that means the people with the most inside knowledge are selling … it hasn't changed the fact that stimulus continues to push prices higher. Price is the primary indicator. While the torrent of insider selling is unmistakeably bearish, the market has ignored the less important measure.
Here is the insider transaction ratio based on data from Thomson Financial:
Meanwhile, while corporate insiders as a group are busy selling their company’s shares as fast as they can, they have no qualms about issuing buy backs of those same shares with the corporations money. According to Trader's Narrative, US share buybacks are at the highest level since the fall of Lehman Bros. Last week, $27.3 billion buybacks were announced – the highest since September 2008. Companies are continuing to use their massive cash hoard to repurchase shares.
This may make shareholders happy and drive per share earnings growth but many fret that this is a sign that performance is once again being artificially manufactured instead of earned through profitable performance or growth. According to research from Citigroup, 37% of the per share growth of earnings in the S&P 500 may be traced back to buybacks if they match last year’s pace.
Business Posts Moving the Markets that I Found Interesting This Week:
Lighter Ideas and Fun Links that I Found Interesting This Week
