Don’t confuse a rising tide with competence

David MoonBlog

In 1929, Walter Miles published a paper in Scientific American Magazine titled “Sleeping with the Eyes Open,” in which he described a phenomenon we now refer to as “highway hypnosis.” During a period of relative and unchanging calm, we have a tendency to stare at something simple and almost meaningless, lulling us into a state of environmental unawareness. That is, we are asleep at the wheel. A related condition is velocitation, where, in the absence of impediments, we exceed an otherwise normal, safe speed. Both are happening today in the stock market. And like a 19-year-old boy in a 1967 … Read More

Avoid kerfuffles, start estate planning early

David MoonBlog

For almost a week, the adult children of 82-year-old Casey Kasem feared that their estranged stepmother had kidnapped the legendary disc jockey and long-time host of the American Top 40 radio show. Kidnapping is not a great estate plan. When I started my investment firm 20 years ago I naively thought this business was about reading annual reports and picking stocks. It is, but it is so much more. The three most intimate things in a person’s life are their spirituality, sexuality and money. And people will more quickly tell you what they think about God and who they’re sleeping … Read More