One minute we were driving through gentle, rolling prairie on a scorching South Dakota summer day. The next, the earth dropped away. Striped cliffs, deep canyons, and sharp pinnacles appeared almost out of nowhere. That was the Badlands, South Dakota; land bad to negotiate, but never bad to behold. We were exploring southwestern South Dakota, […]
Trump Can Sway Stocks, But Not Bonds
Unlike most presidents, who try to manage the economy, President Trump tries to manage the market. He watches the tape like a floor trader, adjusting policy in response. To his credit, Trump may understand the psychology of financial markets better than any modern predecessor. He behaves as though rising asset prices are not just a […]
Speaking For My Father
My father passed away this past June at the age of ninety. When I think of him, I begin with his life, not with the way it ended. He was born in a small village in Kashmir in British India, the sixth of eight children in a family of modest means. He was the only […]