False Prophets Mean Poor Profits

MJG

Hi Guys,

I’m not at all sure where I stand on the contentious topic discussed in Bill Frezza’s recent diatribe in Forbes. He takes the non-controversial position to denounce false prophets, but he defines these frauds in a way that is itself highly divisive. We are exposed to a hot-button dilemma here.

You will each find observations that will receive your approval, but you will also find commentary that is offensive to your belief system. That just might be the sign of a well crafted article. Here is the Link:

http://www.forbes.com/sites/billfrezza/2013/04/03/we-cant-save-capitalism-unless-we-denounce-its-false-prophets/

Now cool down. Like it or not, this is classic Bill Frezza. Sometimes I love him; sometimes I hate him. He is always good for an inspired and quotable one-liner.

In the article, Frezza said “Being pro-business is not the same as being pro-market.” That’s very similar to the investing truism that an excellent company is not necessarily an outstanding stock holding. A lot depends on the current entry price.

He also uniquely analyses the issues not as the conventional two party contest, but as a triad conflict. The additional major participant contributes to both the complexity and to the texture of the problem.

False prophets are antithetical to real profits and healthy paydays. Yet these charlatans proliferate and survive regardless of their dismal records.

Enjoy the article. I’m being just a little impish since I fully understand that Frezza’s economic and political philosophies likely run counter to yours. Please feel free (perhaps even compelled) to comment.

I face little downside debate risk in this instance since I leave tomorrow on a two week cruise. I anticipate a great holiday away from the world’s troubles. Please keep things in order while I’m away.

Best Regards.

Charles

Hi MJG. Looking forward to reading. But JIC, wanted to wish you well on the cruise. I do have a dear friend that will invariably move out of stocks and into bonds every time he goes on vacation. It is uncanny, but he is usually right to do so!

MaxBialystock

The conclusion: "Are we ready to take up that challenge?" Sadly, no. Sadly, the American people are sheeple. Collectively, we are unable to see outside the box or act on a political idea that isn't sponsored by either of the two major parties. To entertain the very concept gets a person dismissed and ridiculed. (What do you MEAN, we should just provide stuff to people just because we are capable of doing so? What ARE you, a Socialist?) Well, maybe, but not necessarily. What sense does it make to make life more difficult. The US economy has more money flowing through it than what's in Gawd's own locker. But it seems we can't get out of our own way. Instead, let's just let the uber-wealthy become even more uber-wealthier and dance on the faces of all the rest of us. (Reference to words from author George Orwell.) Ya. THAT makes great sense.

Nothing and nobody have an equal chance in life. There is no such thing. So should we tell those on the shit end of the stick, "Sorry. You lose." See you later, when you take a job working for peanuts. By the end of the week, you'll have earned enough to buy a can of soup. You won't starve, then. See you later. Oh... and don't get SICK!

Charles

Read the Bill Frezza article this morning. He tees-up nice discussion, but then does not really follow through with facts or figures enabling us to favor or reject any side, let alone take-up his challenge against hat-in-hand, too-big-to-fail capitalists. Honestly, you write better stuff MJG, with less jargon and more substantiation. Once again, enjoy your cruise...and let's hope the markets don't tank while you're away! Until you return, c.