Once again, a lazy day on Wall Street. Dow down a little. Gold up a little. And bonds? It looks…
Not much in the markets today to draw our attention. Other than another pronouncement by the Fed that it will remain “highly accommodative” for the so-called “foreseeable future.”
Then whither our thoughts? How about to the end of the world as we know it? This from The Wall Street Journal:
Today, I want to do something a little unusual…
I want to tell you why I’ve set up something called a “family office.”
Family offices have for hundreds of years been protecting and growing family wealth, based on a number of unique long-term investment strategies.
We’re here on a bend in the Rhine river. Enjoying the 4th of July.
From our hotel, we see the Rhine water flowing swiftly, from right to left. (Let’s see, the Rhine flows from South to North… to discharge into the North Sea. Or somewhere near there. So, if the water is flowing to the left, we must be on the west bank of the river.)
Zurich is a delightful city. So much history! So much beauty! So much money!
You can barely throw a Kruggerand in any direction without hitting a rich banker or his model wife.
They stroll along the Limmatquai. They dine at the Kronenhalle. They shop on Bahnhofstrasse.
And what do they think of today’s markets?
Poor Edward Snowden. There aren’t many real heroes. Most of the people who pass for heroes are just puffed-up jackasses… and stuffed-shirt impostors. Roosevelt. Lincoln. Bernanke. Snowden denies it. But he is the real thing. He gave up his cozy, comfortable life so that others may see the evil that lurks in the shadows… and do something about it.