“Life isn’t fair. It’s just fairer than death, that’s all.”
William Goldman, famed screenwriter
2009 promises to be yet another challenging year, but in no way a carbon copy of 2008.
That’s at the core of my disconnect with all the expert talking heads who have internalized the wreckage of the past year and project yet more […]

Last month, we pulled the trigger and sold one of our favorite funds.
It was an emerging markets fund with a focus on Eastern Europe, including Russia, that had returned a compounded 28% per year for the past five years.
Alas, it has dropped 24% already this year and is still in free fall. And what […]