Monthly Commentaries
Rate Hikes?
“The four most dangerous words in investing are: this time is different.”
Sir John Templeton
AI Superforecasters
‘We tend to overestimate the effect of a technology in the short run
and underestimate the effect in the long run.’
Roy Amara (Amara’s Law)
The Duck-Rabbit
‘We find certain things about seeing puzzling,
because we do not find the whole business about seeing puzzling enough.’
Ludwig Wittgenstein
Plays Of The Year
‘An optimist stays up until midnight to see the new year in. A pessimist stays up to make sure the old year leaves.’
Bill Vaughn
The Holiday Spirit
‘We make a living by what we get, but we make a life by what we give.’
Wiston Churchill
The Law of Averages
‘The man who drowns in a river with an average depth of six inches is still dead.’
Proverb
Go Jays Go
‘Canada is a country whose main exports are hockey players and cold fronts.
Our main imports are baseball players and acid rain.’
Pierre Trudeau
The Powell Pivot
‘When the facts change,
I change my mind – what do you do, sir?.’
John Maynard Keynes
A Whiff of Stagflation
‘If you don’t like the news,
go out and make some of your own.’
Wes Nisker
The Science of Not Knowing
‘If you want a guarantee, buy a toaster.’
Clint Eastwood
The Uncertainty of Uncertainty
‘There are known knowns…there are known unknowns…
But there are also unknown unknowns – the ones we don’t know we don’t know.’
Donald Rumsfield
The Waiting Game | April 2025
‘The waiting is the hardest part.’
Tom Petty