In recent posts I argued that current tax policy for the wealthiest people in the United States incentivizes inheritance over effort, encourages getting ahead either from: Gifts from Daddy or Living off your wealth,or Owning a hedge fund, …all the while punishing people who actually, you know, work for a salary to achieve the American

Here’s my hypothesis[1]: The abundance of cheap domestic natural gas – what I’m calling the Natural Gas Revolution – makes “renewable” energy sources like wind and solar financially untenable, and possibly unnecessary, for the next 90 years.[2] I can’t prove my hypothesis because energy pricing is complicated. Figuring out the ‘price’ of energy derived from

This audio interview is a continuation of an earlier interview with Shirley, in which we talked about her pawn shop, and the customer service they offer that banks rarely offer. In this portion of the interview Shirley and I talked about serving the traditionally Hispanic West Side of San Antonio, and the barriers to trying

I covered the mortgage bond side of SAC Capital in the early 2000s, and I remember half-kidding, half-probing my client about Steven A Cohen’s seeming inability to miss.  Back then Cohen’s SAC had put together a string of annual monster returns like no other hedge fund.[1]  Cohen’s SAC Capital was the Mark McGuire of stock