Laffer’s Curveball
Arthur Laffer’s op-ed piece in the Wall Street Journal (November 21, 2001) will set supply-side tongues wagging — or more likely, supply-side teeth gnashing. The upshot is: Laffer is endorsing the idea of a 10-day federally underwritten suspension of state...Arianna Huffington is Wrong Again! Profit is a Virtue
It’s tempting to accuse someone like columnist Arianna Huffington of profiting from capitalism, given the tirades she’s launched at certain industries. Since she’s attacking profit (alternately spelled “heinous”), I would expect...The Trouble With ‘Timing’: It Doesn’t Work
In the stock market (as in much of life), the beginning of wisdom is admitting your ignorance. One of the many things you cannot know about stocks is exactly when they will go up or go down. Over the long term, stocks generally rise at a nice pace. History shows they...Protect Yourself Through Diversification
Warren Buffett, who was probably the greatest investor of the 20th century, is fond of quoting the salacious actress Mae West as saying, “Too much of a good thing can be wonderful.” In the market, such a motto would lead you to avoid diversification and...The End of the Beginning
“This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” So declared Winston Churchill after an early allied victory in World War II. It was a reminder to his nation that the war would require many more...Contradictory Notions of Fairness
There was a time when Thanksgiving meant an occasion for counting our blessings. But, now that we have so many blessings that previous generations could hardly have dreamed about, we take them all for granted and are much more likely to count our grievances and the...World Trade Center to Fly Flag Over Aircraft Carrier Stennis
Thanks to a patriotic New York City cop, this flag will serve as a constant reminder to the Stennis’ warriors of the justness of our cause: “‘Tis the star-spangled banner! O long may it wave, O’er the land of the free and the home of the brave.”