Strength through Freedom and Prosperity
BY ZVIAD KLIMENT LAZARASHVILI, EDITOR-IN-CHIEF
By the first century AD the shores of the Atlantic to India were settled by the people speaking closely related languages: Persians, Greeks, Latins, Armenians, Celts, Germans and even late comers, such as Slavs… communicated in similar dialects, all descended from the Proto-Indo-European tongue spoken in Eurasia about 6,000 years past. Continue reading “THE EUROPEANS”
Capitalism has limitations. For one, it fails to recognize when players collude either among themselves or, more important, with the government. What can I say, no one is perfect and neither is the trusty friend of freedom and prosperity, – capitalism. Continue reading “A FEW THINGS CAPITALISM CANNOT DO”
There is no gainsaying that “what one racial group has done, another racial group can do even better.” In this sense, capitalism can liberate Africa the way it did the United States. Indeed it appears to be the only panacea for Africa’s economic stagnation. This is on the assumption that a productive population can never be extremely poor, and that most of the world’s poor are so because they stay idle for most part of the year. Continue reading “MICRO-CAPITALISM – THE PANACEA FOR AFRICA”
The key to investment success is philosophical consistency. And there are essentially three approaches to managing equity portfolios. Each approach has advantages, as well as disadvantages, but success always requires discipline.
Continue reading “PROSPERITY VS. POMPOSITY”
BY THE LAISSEZ-FAIRE FRATERNITY
Success requires rational behavior and markets are about chaos.
An investment methodology will work until real money is deployed.
Risk and reward are related in theory because academic models can only work with that assumption.
Most investment models are based upon historical relationships. Historical relationships are harmful and misleading
Continue reading “AXIOMS OF INVESTMENT MANAGEMENT”
What is modern democracy but a mere opinion of an accidental majority? Would you ask the majority to decide what you need to be prescribed during a cancer treatment? How about something less vital, but by no means less complicated, such as fixing your car? Would you like to survey every dimwit and every wise man and woman around the block, and everyone in-between, or would you rather go straight to an expert – a car mechanic? Continue reading “CAPITALISM – NATURAL FORM OF SELF-GOVERNANCE”
BY ZVIAD KLIMENT LAZARASHVILI, EDITOR-IN-CHIEF
“Divide Et Impera” is a Latin saying which in English translates as “Divide and Rule”. It refers to an ancient policy, used by such tyrants as the Caesar and Napoleon, Shah Abbas the first of Iran and the heads of the Russian empire (both, Tsarist and current), and everyone in-between, in order to sink their own, as well as the conquered people into perpetual serfdom. Continue reading “EQUITY VS. EQUALITY”
BY GEORGE P. STASEN, CO-EDITOR
Most asset allocation models rely on historic performance and the performance relationship between alternative asset classes (i.e. stocks, bonds, and cash). There is, however, a basic problem with the methodology: markets change, market relationships change, and historic market relationships seldom repeat in the future. History is a good teacher, but a poor leader. Continue reading “INVESTING IS ABOUT WISDOM”