Interest Rates

Fed's Janet Yellen, in Testimony, Counsels Patience on Interest Rate Increase

By BINYAMIN APPELBAUM

Ms. Yellen said the next step would be an announcement that the Federal Reserve would begin to consider raising its benchmark rate at each policy-making meeting.

 

Source: http://www.nytimes.com/indexes/2015/02/25/todaysheadlines/index.html?nlid=59725256

 

 

 

Binge-eating Drug

Shire, Maker of Binge-Eating Drug Vyvanse, First Marketed the Disease By KATIE THOMAS The strategy for a new drug to treat binge-eating disorder reveals how a pharmaceutical company can influence the treatment of a medical condition. Source: http://www.nytimes.com/indexes/2015/02/25/todaysheadlines/index.html?nlid=59725256

Money Management

Links

East Coast Q4 2014 Letter: All Is Well Since All Grows Better (LINK)

Allan Mecham’s Arlington Value Capital 2014 Annual Letter (LINK)

Cantab Capital Partners: Cursed by Randomness [H/T @george_cooper__) (LINK)

Fireside Chat with Eric Schmidt and Sal Khan of Khan Academy (video) [H/T ValueWalk] (LINK)

The Time Everyone “Corrected” the World’s Smartest Woman (LINK) [I first came across this story and the Monty Hall Problem in the excellent book, The Drunkard's Walk: How Randomness Rules Our Lives.]

Source: http://www.valueinvestingworld.com/2015/02/links_21.html?

Faults to qualities

The faults of the burgler are the qualities of the financier.
G.B. Shaw, preface, Major Barbara 

The History of Finanace

 

There can be few fields of human endeavour in which history counts for so little as in the world of finance. Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of those who do not have the insight to appreciate the incredible wonders of the present.

J. K. Galbraith.


"The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice."

Henry Hazlitt


 

"The most puzzling development in politics during the last decade is the apparent determination of Western European leaders to re-create the Soviet Union in Western Europe."

Mikhail Gorbachev
Whenever a man does a thoroughly stupid thing,
it is always from the noblest motives.

 

Oscar Wilde

 

 

"Those entrapped by the herd instinct are drowned in the deluges of history. But there are always the few who observe, reason, and take precautions, and thus escape the flood. For these few gold has been the asset of last resort."
Antony C. Sutton

 

 

Marketing

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