Nov

19

Punishment, progress

November 19, 2023 |

after 4 out of 5 consecutive 20-day highs in S&P, the gentlemen still don't like it enuf to have strong a close [on Friday].

one of the most recurring principles of life and investing is that there is a balance between reward and punishment. recently the Fed coming to their senses about not raising yields (perhaps related to the old grays odds have reduced the likely punishments). reason for 10% rise.

the dangers of anti-business:

The Mainspring of Human Progress, a book by Henry Grady Weaver.

The author, Henry Grady Weaver, served as director of customer research for GM. Blind in one eye, he nevertheless spent much of his life peering over data. He was a number-cruncher, not a philosopher or polemicist. His writing experience had consisted mainly of penning articles on psychological research. But The Mainspring of Human Progress, an amateur’s paean to freedom and individual ingenuity, remains one of the finest discussions of the impact of business on society that has ever been written.

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