Electric cars will be taking over our roads. Not right away — now fewer than 1% of the world’s cars are electric. But it looks like the world is getting ready for roads free of gas and diesel vehicles. Volvo announced that it will make only electric vehicles from 2019. Norway is planning for only […]
Julie Won
The 2-Minute Thought: The Safest Form of Energy?
According to a 2010 study by the World Health Organization, the Centers for Disease Control, and the National Academy of Science, coal is the most dangerous form of energy. The safest? It’s not solar, wind, or hydro. It’s nuclear, which accounts for fewer deaths and illnesses than other energy sources and is tied with wind […]
The 2-Minute Thought: In the Gig Economy, the Phillips Curve Gets Flattened
In a June speech, Andrew Haldane, Chief Economist at the Bank of England, said that much is well with the UK. The economy has had 17 consecutive quarters of growth, consumer and business confidence is solid, and the jobs market is strong. Employment is at its highest rate since 1973, while unemployment is at its […]
The 2-Minute Thought: America is Number One; China is the Center of the Universe
America is number one. China is center of universe. America is freedom. China is order. America is now. China is eternity. These ideas come from Harvard professor Graham Allison’s new book, Destined For War: Can America and China Escape Thucydides’s Trap? The main point of the book isn’t to elucidate the differences between China and […]
Small Cities Are Rising…
Living in New York, London, Tokyo, or any one of the world’s great cities is a singular experience. Every big city has its unique charms, but all offer hubs of creativity, cosmopolitan thinking and a chance to rub shoulders with “the best and the brightest.” For years, we’ve been hearing that the most talented, most […]
The 2-Minute Thought: The ‘Nifty Fifty’
In the 1960s and early 1970s, there were 50 wildly popular stocks known as the “Nifty Fifty” that seemed invincible. Originally identified by Morgan Guaranty Trust as the fastest growing companies around, the Nifty Fifty were called “one-decision” stocks because you only needed to buy them but never would need to sell them. They were […]
The 2-Minute Thought: Japan Underappreciated
Japan has long served as the globe’s cautionary tale on deflation, stagnation, and the consequences of a dwindling, greying population. In the 20 years leading up to 2015 — while the U.S. economy grew by more than 130% — the Japanese economy grew not at all. It simply carried on quietly through its gloom with […]
Lessons from the Gates Foundation…
The Bill and Melinda Gates Foundation is all about going big and bold and tackling the world’s hardest problems. Its guiding principle is that “All lives have equal value.” Its aims are to get more young children to survive and thrive, to empower the world’s poorest people, to combat infectious disease and to inspire people […]
The 2-Minute Thought: Purposeful Reading For Investors
So much to read, so little time. . . The lament of investment portfolio managers everywhere is the never-ending struggle with unread newspapers, journals, corporate filings, speeches, investment research, and good books. How do you get through it all and cover all you feel you should know? The frustration is age-old. Even Roman philosopher Seneca […]
The 2-Minute Thought: On Getting Better With Age
In 2014, Lewis H. Lapham wrote a wonderful essay for The New York Times Magazine called “Old Masters” with the subtitle “After 80, some people don’t retire. They reign.” It profiled people in their 80s — and beyond — getting better and better at what they do. The profiled individuals spanned a wide range of […]
The 2-Minute Thought: Industry Concentration, Monopoly Power
The conventional wisdom today is that U.S. stock prices are high and a correction is due. But what if stock prices actually can stay elevated for a long time to come? U.S. stock valuations have been high for longer than many expected. As Jeremy Grantham of money manager GMO shows in the chart below, the […]
The 2-Minute Thought: Lying and Deception
Do you think that when people lie, they avoid eye contact, fidget, or stutter? It’s a widespread belief across cultures. But it is not so. Gaze aversion, posture shifting, rapid eye blinking, and similar cues do not help us detect dishonesty. That’s one of the surprises of a recent research study published by CFA Institute […]
