The health care debate is at once fascinating and exhausting. The interminable chin wagging from both camps is luckily interrupted, from time to time, by moments of clarity. (more…)

If the events of the last few years have taught me anything, it is that when it comes to the capital markets, there are very, very few experts. Sure there are lots of people in this space that benefit greatly by our believing that they are experts, driven mainly by a lack of confidence in our own abilities in this space. But what I’ve come to recognize is that the same forces that cause us to question ourselves should fuel a healthy dose of speculation about the “experts.” (more…)

Some companies have found a silver lining inside this big gray cloud of a recession. It provides superb air cover for otherwise poor operating results. Consider it a derivation of the “Devil made me do it” theme. The mantra for some of these businesses is “the recession had a big negative impact on our operating results in the quarter, blah, blah, blah…” In other words, “the recession made us not do it.” (more…)