Three figures came to mind recently when thinking about the past ten years. I was looking back on my own life during this era, thinking about my career and social life and how it is odd they fit nicely against the backdrop of the external environment - the economic, political and cultural developments that took place over the same time frame. The previous decade will always bring the greatest memories of my life, alongside some of the darkest in an equal counterpunch of regret. I think similar could be said about all three of these men I thought of, and the decade itself. The future feels a lot more serious and a lot less fun than the past ten years, despite the hard times that did occur. Each of these men were impacted by the period and came out of the decade very differently than they came in. Perhaps we all do, but their transitions represent some important macro themes that we are facing today and they played very central roles while the change occurred. The men that best symbolise the "2010's" for me are a former hedge-fund manager, a world leader and an obscure blogger out of America.
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Contemporary Thoughts on the Week in the Market (and some other things)
It was a week where the NASDAQ hit an all-time high, Gold hit an 8-year high, a major accountancy scandal brought down a major digital finance firm, markets started the week up big, then turned around and finished the week in the red. It is hard to make sense of it all. The NAS and Gold hit those high levels ON THE SAME DAY. But if you step back and take a look at a long horizon the noise gets quiet and you will notice some steady trends.
Contemporary Thoughts on the Week in the Market (and some other things)
A weekly synopsis of random thoughts on the past week of market meanderings.
Market Mania and Blindness
The date is May 29, 2020. The companies named include Amazon, Tesla, Microsoft and Alphabet. There are more, but these names stand out. What is it I am looking at? Investor Chronicle's (IC) international bounce-back "must-buy" list for stocks - amid the economic clouds of Covid-19's impact. The magazine further highlights Amazon in a key feature as a subset of this theme. In the same issue they reference the South Sea Company as the "original bubble". The publication's coinciding weekly podcast is also titled "Living in a bubble". Yet curiously their writers (at least those on the podcast) shied away from applying the term "bubble" to today's market - suggesting markets are not overvalued.
Jobs from Hell
In the neighbourhood I grew up in it was common to get a part time job as early as the age of 14. It was actually common throughout my home country and many parents forced their kids to do it, typically middle-class families. Rich kids don’t have to. I started a humiliating career of part time jobs in the 9th grade, but they provided great lessons and motivations that would shape my future world future. The first job was at McDonald’s. I was useless. I think the hiring manager must have known that, for it was only when my girlfriend’s sister intervened did he give me a job. I was always put on the meat or frying station. They once tried me in the front but realized my cold demeanour did not make me suitable for customer service. So they hid me in the back.
True Love
We first met at a bar in Sweden. I had no clue what I was in for. On the encouragement of my friend I approached you, and then shortly after, I tasted you. I was hooked for it was like a drug. I had never felt a high like that and I haven’t since. I was numb to everything else around me. There was nothing anybody could have said to me in that moment that would have made me take my thoughts off of you. That has been a theme throughout our tenuous relationship since.
Dislike Labels
Labels can be a dangerous thing. It is not only dangerous to label, but it is dangerous for you to identify yourself with labels.
Welcome
A brief introduction.