Friday, December 29, 2017

BITCOIN? TODAY'S PRICE 12/27/17 $15,500.00 (EXERPT OF BLOG ORIGINALLY PUBLISHED FEBRUARY 2011)


PART TWO:In order to understand where I'm going with this you will have to allow me to tell you a quick story. My wife Sally and I, during the Internet bubble, were invited to attend a presentation by one of the best asset management firms in the world. This firm had scrupulously avoided investing their clients money in the overpriced dot.com companies. Unfortunately, it's performance had lagged its peers that had invested in those companies and the firm lost thirty percent of its assets under management, solely because they were thought to be an old dowdy company. At the meeting we attended, we were immediately introduced to the new Internet guru of this wonderful asset management firm. We were told he had appreciated money at an annual rate of 500% in the last year and now was the time for all the money that had left their firm to return and they would do all they could to compete with their new investment guru. Only a few "special clients", like us, would be "invited" into this "fantastic investment opportunity". In other words, at the very peak, the rate of asset loss to this money management firm and the enormous emotional pressure they felt was so great, they could not stop themselves from attempting to participate in the craziness. The Internet boom went bust a few months after this presentation, the young money manager was fired, all the money was lost, over $200 million dollars, and quite successfully, this money management firm continues to deliver a steady investment product.



Thursday, December 7, 2017

SCHOOL SHOOTINGS - FAILURE OF DEMOCRACY...(ORIGINALLY PUBLISHED DECEMBER 2013) NOW ORLANDO....

A recent round-table discussion centered on why security at schools should not include metal detectors and other signs of collective safety.

The argument focused on the deterioration in the quality of schooling which would occur if the schools began to feel more like fortresses rather than educational institutions.

The debate concerned the intrusion of tighter security into the freedom of our schools, which should not be imposed by criminal elements.  The logic went that if the additional security measures were enacted the bad guys had basically won the day.

You could argue and discuss this for a long time but at the end our schools still remain vulnerable.  This last incident in Colorado could very easily have resulted in  many, many more deaths.  We were just lucky.  We might even make the claim that the increased security since Columbine substantially saved a number more lives.

I wonder if the D.C. Federal Judge would have so smugly undermined the constitutionality of the anti-crime terrorists surveillance if "his kid" was blown away by a mad person because security failed to trump our over expectations of what it means to be a free society.

Without safety , the Constitution will lose its value.


 

Shepard Osherow. All Rights Reserved