The NASDAQ Plummet: A Truly Mean Reversion
Statisticians who watch the stock market are accustomed to using the phrase “mean reversion” to describe how returns from investing in equities tend to come back to their long-term averages after they diverge for awhile. The extraordinary period that ended...Richard Li: Hong Kong’s Destructive Prince of Political Pull
One of Hong Kong’s largest, and most enduring business institutions has been laid low by a reckless brat from one of Hong Kong’s most powerful families. About a year ago, Richard Li acquired Hong Kong Telecom, and proceeded to destroy over US$20 billion of...Friendship is Selfish
Cicero wrote that, “There is nothing more fatal to friendship than the greed of gain.” Although a popular sentiment, it’s a deeply mistaken one. Think about the friends you have. Try to make yourself aware of what you enjoy about those friends...PETA Should Rename Itself ‘The Inhumane Society’
I could tell it was a parody. “Dear Warden Lappin,” began the letter to the director of the federal penitentiary in Terre Haute, Ind., where Timothy McVeigh is being held, “On behalf of People for the Ethical Treatment of Animals (PETA), I am writing...In Defense of David Horowitz’s Anti-Reparations Ad: A Feeling Is Not an Argument
Over the past two weeks, college students have been denouncing the publication of an ad that opposes “reparations” to blacks in America. Angry Duke students staged a sit-in to demand an apology by the school’s newspaper, the Chronicle, for running...John McCain, Traitor
It is time to put the John McCain myth to rest. For years, the national media and a gullible grass-roots following have glorified McCain as a man of integrity who deals in “straight talk.” They have promoted his image as a hero who fought bravely for his...The McCain-Feingold Gag Order
You don’t end bribery and corruption by banning contributions to campaigns. Instead, you simply step up prosecution against bribery and corruption.