Outrageous fortune
“Isn’t it funny when you walk into an investment firm and you see all of the financial advisers watching CNBC ? That gives me…
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Events
“Events, dear boy, events.” Alleged response by the British Prime Minister Harold Macmillan, when asked by a journalist what is most likely to blow…
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Fireworks
“A key prediction of traditional economics.. is that the economy as a whole must at some point reach equilibrium – a prediction made by…
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Risky business
“In 1961, at the height of the Cold War, a B-52 bomber carrying two Mark 39 thermonuclear bombs accidentally crashed in rural North Carolina….
Read MoreHappy anniversary
“They have learned nothing, and forgotten nothing.” Attributed to Talleyrand. Since everybody else in financial media has been indulging in an orgy…
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Everything is awesome
“What explains the complacency? One reason might be the absence of good ideas.” Martin Wolf in the Financial Times (‘Why so little has…
Read MoreOn the wealth, and poverty, of nations
“There’s a great deal of ruin in a nation.” Adam Smith, in correspondence discussing the Battle of Saratoga, which marked a turning point…
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Speaking truth to power
“Ron Steigler: Mr. Gardner, uh, my editors and I have been wondering if you would consider writing a book for us, something about…
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An odd, non-linear game
“Sir, John Authers, in Loser’s Game (The Big Read, December 22), could have delved deeply into the flaws in the asset management business as…
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May Day
“Japan was the dress rehearsal; the rest of the world will be the main event.” Investor in Japanese stocks, known to this correspondent, circa…
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