Thinks 138

Investing advice from Andy Kessler: “My advice is always to invest in the fog. When everyone else is incredulous, look for scale. Usually, no one else can see it. Squint hard, but don’t make stuff up. If you can see something that everyone dismisses, and that will get cheaper over a long period of time, maybe decades, buy in cheap and go along for the long ride. Others will eventually overpay. On the flip side, when the fog clears and we’ve moved from the acceptance to hype, it’s time to unload your shares to those late to the party.”

Agriculture policy should target India’s actual farming population: by Harish Damodaran. “Most government welfare schemes are aimed at poverty alleviation and uplifting those at the bottom of the pyramid. But there’s no policy for those in the “middle” and in danger of slipping to the bottom…Whether it is crop, livestock or poultry, agriculture policy has to focus on “serious full-time farmers”, most of them are neither rich nor poor. This rural middle class that was once very confident of its future in agriculture today risks going out of business. That shouldn’t be allowed to happen.”

Robert Mundell: Obit by Vivek Dehijia. “Widely considered the greatest macro economist of the second half of the last century, in the generation after John Maynard Keynes, Mundell was in rarefied terrain. Indeed, the only other credible contender for this title would be the late Milton Friedman, who was his colleague at the University of Chicago when Mundell taught there during the late 1960s. Mundell was awarded the Nobel Prize in economics in 1999.” More from Madan Sabnavis and TCA Srinivasa-Raghavan.

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Rajesh Jain

An Entrepreneur based in Mumbai, India.