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Posts Tagged ‘Don Quixote

“Commodities tend to zig when the equity markets zag”*…

 

Screen Shot 2020-01-13 at 11.11.12 AM

 

On the subject of things– things that matter, whether we are active investors or not– that we might (to our peril) take for granted…

There are plenty of expensive assets in the world today. The past decade of loose monetary policy and central bank money dumps have created the infamous “bubble in everything”. This is one reason we now have the bizarrely yo-yoing investment environment that we do, in which everything from risky stocks to safe gold is rising at the same time.

But one thing has remained reliably cheap — commodities. While the US equity market, which keeps ratcheting up to new highs, is almost as expensive as in the past 150 years, commodities are about as cheap relative to stocks as they’ve been in the past century.

Part of this is natural — and structural…

And yet, having watched the last big demand-driven oil spike in 2008, as well as the more financially driven price spike in 2011-12, which eventually came undone when central bankers pulled back on quantitative easing, I think it’s unwise to assume that we have entered a permanent bear market in commodities — at least not yet…

… if commodity prices did rise, there would be myriad ramifications. You would start to see the heads of petro states further emboldened, and populist nationalism increase globally — inflation in food and fuel prices hits the poor hardest, encouraging political volatility. That could, in turn, create new trade turmoil and the sort of disruption that the markets are currently discounting.

On the upside, though, demand for commodities is price elastic — once prices go too high, demand always falls. The cycle of replacing one source of energy with another has been playing out for hundreds of years, and continues. In an ideal world, the next commodities bubble, whenever it comes, could help us make what might be the final shift — away from fossil fuels and towards renewables.

The estimable Rana Foroohar explains there are many reasons for the US dollar to weaken, which would (among other drivers) cause commodity prices to rise: “Commodities may not stay cheap forever.”

* legendary investor Jim Rogers

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As we contemplate cycles, we might rejoice that it was on this date in 1605 that El Ingenioso Hidalgo Don Quijote de la Mancha ( or The Ingenious Hidalgo Don Quixote of La Mancha— aka Don Quixote), the masterwork of Miguel de Cervantes (and of the Spanish Golden Age) was first published.

Original title page

 

Written by LW

January 16, 2020 at 1:01 am

“Don’t just do something, sit there”*…

 

cows

You’ve heard of slow food and slow fashion. Now the BBC is spreading the gospel of slow radio.

The British public broadcaster’s Radio 3 programming this autumn will invite listeners to relax to the sounds of Irish cows being herded up a mountain and leaves crunching on walks through the country. Radio 3 controller Alan Davey tells The Guardian this “meditative, slightly old fashioned” radio will provide audiences with “a chance for quiet mindfulness.”

That sounds a lot like autonomous sensory meridian response (ASMR), or the pleasant calming sensation many people feel when listening to a range of gentle everyday noises, from softly spoken words to someone raking a zen garden…

More on soothing sound at: “The BBC is getting into ASMR.”  And for those who can’t receive Radio Three…

* Buddhist saying

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As we’re muse on mindfulness, we might recall that it was on this date in 1597 that Miguel de Cervantes Saavedra, then a tax collector in the province of Grenada, was imprisoned in the Carcel Real, the royal prison in Seville, Spain.  Apparently a subordinate had deposited tax receipts with an untrustworthy banker.

Forced to slow down, Cervantes took good advantage of his free time: he started plotting (but probably not actually writing) “El ingenioso hidalgo Don Quijote de La Mancha” (“The Ingenious Nobleman Sir Quixote of La Mancha“)– or as we have come to know it, Don Quixote.  As Somerset Maugham said,”casting my mind’s eye over the whole of fiction, the only absolutely original creation that I can think of is Don Quixote.”

cervantes source

 

Written by LW

September 15, 2018 at 1:01 am

“Being crazy isn’t enough”*…

 

There are only three foodstuffs in American English the names of which can also mean “crazy”; learn the (fascinating) story of each at “Why Are Bananas, Nuts, and Crackers the Only Foods That Say ‘Crazy’?”

* Dr. Seuss

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As we entitle insanity, we might spare a thought for the man who introduced “crazy” to literature, Miguel de Cervantes Saavedra; he died on this date in 1616 (though some scholars put it a day earlier)– the same day as Shakespeare died, and (most likely) Shakespeare’s birthday.  As Somerset Maugham said,”casting my mind’s eye over the whole of fiction, the only absolutely original creation that I can think of is Don Quixote.”

 source

Written by LW

April 23, 2018 at 1:01 am

“All the effort in the world won’t matter if you’re not inspired”*…

 

More weird wisdom at Werner Herzog Inspirationals

* Chuck Palahniuk, Diary

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As we study Stuart Smalley, we might recall that it was on this date in 1616 that Cervantes’ Los Trabajos de Persiles y Sigismunda (The Works of Persiles and Sigismunda) was accepted for publication.  A departure from the celebration of the commonplace in his Don Quixote, the Persiles is a romance– a Byzantine novel– full of fantasy.  Cervantes, who had died three days after finishing the manuscript, believed it to be his crowning achievement.

The cover of the first edition, which appeared the following year (1617)

source

 

Written by LW

December 15, 2014 at 1:01 am

Been there, done that…

 

The Associated Press reported in early February 2009 that American Jennifer Figge had just completed a 2,100-mile swim across the Atlantic. The story reported that Figge had begun at Cape Verde, in western Africa—on January 12. It took little time for sharp-eyed readers to flinch, do a double take and read that again: January 12 to early February. Not even 30 days. That would have been 80 miles daily—three miles per hour nonstop for a month—to complete the journey…

Seem impossible?  It was.  Read the full story– and eight other “stretches”– at Smithsonian‘s “Cheating Their Way to Fame: The Top 9 Adventure Travel Hoaxes.”

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As we burnish our travel tales, we might spare a thought for the man who told what is arguably the most amazing (albeit avowedly fictional) travel tale of all, Miguel de Cervantes Saavedra; he died on this date in 1616 (though some scholars put it a day earlier)– the same day as Shakespeare died, and (most likely) Shakespeare’s birthday.  As Somerset Maugham said,”casting my mind’s eye over the whole of fiction, the only absolutely original creation that I can think of is Don Quixote.”

 source

 

Written by LW

April 23, 2013 at 1:01 am

The Journal of Unintended Connotations, Canadian Edition…

To be perfectly blunt about it, The Beaver was an impediment on the Internet. People were literally writing us and saying, ‘We can’t get your e-newsletter because it’s being spam-filtered out, can you change the title of the heading?’ … There were some really unfortunate but practical reasons why The Beaver couldn’t be the universal brand. That’s the factor why it was a deterrent — particularly amongst women and people under the age of 45. Unfortunately, sometimes words take on an identity that wasn’t intended in 1920, when it was all about the fur trade.

Deborah Morrison, president of Canada’s National History Society, explains why The Beaver, Canada’s second-oldest history magazine has decided to change its name to the more straightforward Canada’s History.  (TotH to GMSV)

As we listen for naughty echoes, we might rejoice that it was on this date in 1605 that El Ingenioso Hidalgo Don Quijote de la Mancha ( or The Ingenious Hidalgo Don Quixote of La Mancha— aka Don Quixote), the masterwork of Miguel de Cervantes (and of the Spanish Golden Age) was first published.

Original title page

Auto-Tuning the Cosmos…

Readers who recall earlier brushes with the “voice-enhancing” software Auto-Tune (e.g.,”All That Glitters…“) will be delighted to know that John Boswell (Colorpulse Music) has turned the technology to a more universal purpose.

A musical tribute to two great men of science. Carl Sagan and his cosmologist companion Stephen Hawking present: “A Glorious Dawn – Cosmos remixed.” Almost all samples and footage taken from Carl Sagan’s Cosmos and Stephen Hawking’s Universe series.

As we listen to the music of the spheres, we might thank our lucky stars for Miguel de Cervantes Saavedra, author of Don Quixote, arguably the first– and arguably the finest– Western novel. He was born on this date in 1547 in Alcalá de Henares, near Madrid.

Cervantes

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Written by LW

September 29, 2009 at 12:01 am

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