John Keane: “When democratically elected governments cease to be held accountable by a society weakened by poor health, low morale and joblessness, demagogues are prone to blindness and ineptitude…Elections still happen and there’s abundant talk of “the people”. But democracy begins to resemble a fancy mask worn by wealthy political predators. Self-government is killed. Strong-armed rule by rich and powerful poligarchs in the name of “the people” follows. Cheer-led by lapdog media, phantom democracy becomes a reality. Society is subordinated to the state. People are expected to behave as loyal subjects, or else suffer the consequences. A thoroughly 21st century type of top-down rule called despotism triumphs.”
WSJ on Cathie Wood: “Her willingness to bet big on just a handful of companies is a big reason her funds have outperformed so many others. Many actively managed funds try to lessen their dependence on a handful of stocks by spreading their bets across 100 or so companies and aligning their funds more closely with benchmarks they are trying to beat. Ms. Wood, in contrast, has built highly concentrated funds. Her Innovation ETF has 46 holdings, making it more susceptible to the ups and downs of each of its stocks.”
Via Shane Parish: “Good thinkers understand a simple truth: you can’t make good decisions without good thinking and good thinking requires time. If you want to think better, schedule time to think and hone your understanding of the problem.“
