I want to open with a shout out to my dear friend and philanthropic advisor Kathy LeMay who offers us some great advice on giving over at Misstroplolis. Kathy serves as a source of continuous inspiration to me on how to lead a generous life. I am hoping Kathy will do a guest post and generosity newsletter for me at some point soon but for now check out her web-site.
I have to bring your attention to a three opeds that were in yesterdays Wall Street Journal.
1) “President Elect Obama” – I went WILD then I read this statement. Wild. “One promise of his victory is that perhaps we can put to rest the myth of racism as a barrier to achievement in this splendid country.” The myth of racism????? Now because we have a mixed race President not only does racism no longer exist, but it never did?????? I have to add this to the very long list of issues to write more about but I had to draw it to your attention.
2) “I Vote NO Confidence in Congress” – by Harvey Golub. I agree with a lot of what he wrote. I have big concerns that the folks in Washington are not fully comprehending the consequences of their actions.
3) We Need Sustainable Capitalism – by David Blood and Al Gore. I know David from Goldman and he is a great guy. Generation Investment Management is a great example of a capitalism at it’s best.
The Markets – We had a nice rally up until Monday and then reality set it once again. Having bounced approximately 20% from the lows we gave back about 10% over the past few days. Sadly I do not think we have found a bottom. The economic news continues to be horrible. Just horrible. Across the ocean the Bank of England cut rates in a dramatic move that can only mean one thing – major problems.
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