Relevant and even prescient commentary on news, politics and the economy.

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The contrarian addiction

…FDA black box warning label based on the Women’s Health Initiative (WHI), an NIH-funded clinical trial that compared more than 20,000 post-menopausal women taking hormones to two similarly-sized groups taking other,…

Warren Buffet’s annual letter to shareholders

…purchasing companies] were known as “leveraged-buyout operators.” But LBO became a bad name. … Their new label became “private equity,” a name that turns the facts upside-down: A purchase of…

Paul Volcker Feb.20

rdan No fat tail. Nor black swan. Nor once every 100 year occurrence. (Hat tip reader CMike) Forbes has Volcker’s complete remarks below the fold, lifted directly from Forbes and…