“In my life, I try and avoid things that are stupid and evil and make me look bad in comparison to somebody else- and bitcoin does all three. In the first place, it’s stupid because it’s still likely to go to zero. It’s evil because it undermines the Federal Reserve System…and third, it makes us look foolish compared to the Communist leader in China. He was smart enough to ban bitcoin in China.” Charlie Munger
The IRS is paying 4% interest to the many, many taxpayers with delayed refunds. The kicker: it’s taxable. Business Insider, May 9, 2022
“Money talks, but it doesn’t tell the truth.” Herbie Cohen
The company Carnival Cruise Lines started with only one ship and on its maiden voyage had enough fuel to make it from Miami to San Juan- but not back. AARP, print edition April 2022
In the second quarter of 2020, the share of U.S. retail sales that happened online surged to 15.7%. By the fourth quarter of 2021, that share had dropped to 12.9%. The drop in online spending was the first year-over-year decline since November 2013. The Wall Street Journal, April 22, 2022
The research found that companies with business-degree wielding managers don’t see any increases in sales, productivity, investment, or employment compared to companies without business managers. According to a paper circulated by the National Bureau of Economic Research, wages fell 6% within five years at U.S. companies that hired managers with business degrees. Morning Brew, March 29, 2022
Upon the opening of his new play, George Bernard Shaw wrote to Winston Churchill, “I am enclosing two tickets to the first night of my new play; bring a friend, if you have one.” Churchill responded, “Cannot possibly attend first night, will attend second…if there is one.” Anecdote
