Thursday, November 6, 2008

Kathy LeMay, a Few Must Read Opeds, and a Market Update

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.

I sent out my very first newsletter today so if you are not on my mailing list you are missing out. Add your email so you do not miss the next one.

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