I remember when I was in teenager (a long time ago), hearing a pundit say, “If productivity gains continue, by the 1980s we’ll all be looking around for something to do.” That didn’t happen, of course, except it sort of did. The factories of North America were mostly automated long ago. The computer revolution that […]
Archive | July, 2020
The End of LIBOR
Do you lay awake at night wondering, “What will I do when LIBOR ends?” No? Me either. But if you have any financial instruments tied to LIBOR, you probably should pay a little attention to this issue. First, what is LIBOR? LIBOR is the London Interbank Offered Rate. It is a benchmark rate that indicates […]
Book Review: This Time is Different
This Time is Different, by Carmen M. Reinhart and Kenneth S. Rogoff, is subtitled, Eight Centuries of Financial Folly. The book has been called “a masterpiece” and “…the best empirical investigation of financial crises ever published.” In this amazing book, the authors, two eminent economists, survey and chart 800 years of financial cycle booms and […]
Book Review: Other Minds
This fascinating book is subtitled, The Octopus, The Sea, and the Deep Origins of Consciousness. So, no, this isn’t a business book. It is more of an ‘expand your perspectives book’ or a ‘think outside the box book.’ For the author, Peter Godfrey-Smith, I give him my highest compliment: This book is extremely thought provoking. […]
Book Review: How to be Rich
Every year there are lots of new business books, often on trending topics. Occasionally, I like to go back and read an old business book. Sometimes I’ll do this because the book is a classic and worth revisiting. Other times, I like to read an old business book to see whether the book’s advice or […]
A New Model of Transportation
Last week, I provided a book review of Autonomy—The Quest to Build the Driverless Car—And How it Will Reshape Our World. This week, I’m following up with what this might actually look like. First, it should be stated that the traditional car companies are all working on this, but they are behind the tech companies, […]
Book Review: Autonomy
The subtitle of this books explains what Autonomy is all about: The Quest to Build the Driverless Car—and How it Will Reshape Our World. The author of the book is Lawrence Burns with Christopher Shulgan as the co-author. Published in 2018, the book tells the story about how we’ve gotten to where we are now, […]
RMA Predictions on Recession
I’ve been a member of the board of directors of the local RMA chapter for many years. RMA is Risk Management Associates, the national bankers’ organization. It has been around for over one hundred years and was know for most of its existence as Robert Morris Associates, Robert Morris being George Washington’s banker and the […]
My First Trip to Asia
In April, my wife, grandson and I visited Korea. This was mostly a chance to visit my wife’s family. She has three sisters and their families that live in and around Seoul. My wife was born during the Korean War, or what they call the Korean Civil War. The country was very poor after the […]
It’s (Still) Deal Time in the Business Cycle
In July 2017, I wrote that it was deal time in the business cycle and that I had been helping a number of clients sell their businesses. At that time, we were overdue for a recession. Now, almost two years later, we’re even more overdue for a recession. Still, somehow the economy keeps on going […]