Originally posted on July 24, 2020. Unreal: I was with our son and our youngest grandson yesterday at our local gun shop. The well-versed owner looked like he had just recently graduated from high school. (It is a little shocking how many folk have that look to me these days.) Matt and I were looking […]
My 1987 Book: These Charts Were the Foundation
The Prudent Man
Justice Samuel Putnam wrote the decision in Harvard College vs. Amory In the September 2015 issue of Richard C. Young’s Intelligence Report, Dick Young wrote: The Prudent Man Rule is based on common law stemming from the 1830 Massachusetts court formulation Harvard College v. Amory. The Prudent Man Rule directs trustees “to observe how men […]
The Big Short and The Prudent Man
If you want to lose even more faith in the big banks on Wall Street then see the movie The Big Short. It’s an excellent portrayal of what ignited the Great Recession based on Michael Lewis’ book of the same title. It never ceases to amaze me how little we learn from history—one that’s littered with financial […]
Adam Smith and the Prudent Man
From the WSJ: Adam Smith, “The Theory of Moral Sentiments” (1759): The prudent man always studies seriously and earnestly to understand whatever he professes to understand, and not merely to persuade other people that he understands it; and though his talents may not always be very brilliant, they are always perfectly genuine. He neither endeavours […]
