Howard Marks Redux: "There They Go Again" - Why Stock Investors Develop Amnesia

"Contributing to... euphoria... is the extreme brevity of the financial memory... There can be few fields of human endeavor in which history counts for so little as in the world of finance. Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of those who do not have the insight to appreciate the incredible wonders of the present."

New Hedge Fund Fee Structures Reveal Traditional Model On Verge Of Collapse

While it's inevitably a slow process, over the long term, business models that no longer make sense, like paying billions in fees for returns that rarely exceed index returns (which could be accomplished for almost nothing), eventually die off...it looks like hedge funds just entered Phase 3 (a.k.a. "Bargaining") of a 7-step process.

Be Careful What You Wish For, Police Body-Cam Edition

After the recent deluge of videos showing police abusing and sometimes flat-out murdering more-or-less innocent citizens, the willingness of a growing number of cities to equip officers with video cameras has been hailed as a victory by civil libertarians. But what if those cameras also extend the surveillance network exponentially?

Is India The Next Pakistan? "It Keeps Getting Worse Ever Faster"

One of the largest illegal migrant groups in the US is from India. In this modern era, India’s crisis will not stay limited to India. As is the case with those from other eastern religions and societies, once they arrive, Indians vote to mirror what they left behind in their home country, often unknowingly — as the virus of totalitarianism is deeply ingrained in the culture of irrationality. A wall might not be the answer, but Trump isn’t all that wrong.

EU Celebrates 60th Birthday As European Leaders Scramble To Hold "Fraying" Union Together

Today in Rome, the EU celebrates its 60th anniversary. The celebration comes at a strange time: four days earlier, Theresa May delivered an unprecedented blow to the bloc's growth by filing Britain's formal exit papers. The impending Brexit and tens of thousands of protesters gathering beyond the tight police cordon around the Campidoglio palace offered a more sober reminder of the challenges of holding the 27 nations to a common course.

Hayes: "A Lot Of What I Know Even The DOJ Is In The Dark”

"It was just after 8 p.m. when my iPhone buzzed with a text message from a number I didn’t recognize. “I’ll meet you tomorrow but I need to be certain I can trust you,” the text read. “This goes much much higher than me and a lot of what I know even the DOJ is in the dark.” The message was from a terrified, and very sober, Tom Hayes."

Self-Driving Uber With Passenger Involved In Arizona Collision

In the latest setback for the world's most valuable private company which in recent weeks has been reeling from multiple crises, on Friday a self-driving Uber vehicle was involved in a crash in Tempe Arizona, which left the Volvo SUV stranded on its side.  According to ABC, a car failed to yield to the autonomous SUV and hit it, authorities said. The Volvo then rolled onto its side.

Watch These Geopolitical Flashpoints Carefully

The globalists tend to use what I call a “scattershot effect” when it comes to creating or managing chaos. They set the stage for multiple flashpoints around the world and wait to see which of them works and which of them fails. Not only this, but one successfully executed flashpoint has the ability to give birth to dozens of new flashpoints. They tend to spread, like a cancer. That said, some flashpoints are more dangerous than others. 

Trump On What Happens Next: "Obamacare Will Explode"

"People will see how bad it is and it's getting much worse/ I said the other day when President Obama left, '17, he knew he wasn't going to be here. '17 is going to be a very bad year for ObamaCare, very, very bad. You're going to have explosive premium increases and your deductibles are so high people don't even get to use it. I think what will happen is ObamaCare, unfortunately, will explode."

Russophobia - Symptom Of US Implosion

The Soviet Union passed away more than a quarter of a century ago, but Russophobia among the US political class is more virulent than ever. However, the power of the Russophobia propaganda technique over the wider population seems to have greatly diminished from its Cold War heyday.