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Tom Au, CFA
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In the early 1990s, during the middle of a secular bull market, I began work on "A Modern Approach To Graham and Dodd Investing," that was not particularly suited for the decade of the 1990s, but was ideally suited for the following "Lost Decade" of the 2000s.
My book:
A Modern Approach to Graham and Dodd Investing
  • "Incident" Shows Rising Fear of World Elite 0 comments
    Jul 12, 2009 2:50 PM

    America's Barack Obama and France's Nicholas Sarkozy may have thought that they were acting as private individuals when they stole glances at the "booty" of a 17-year old Brazilian girl (and were photographed doing so). The incident soon had international ramifications, however.

    The parents of the girl objected. (That's what parents are for.) Specifically, they decried their daughter's becoming an object of desire for world leaders, when they (and the girl) had other plans for her.

    During medieval times, noblemen enjoyed a privilege called the droit de seigneur, basically the right to sleep with any woman living on their estates. One of the first priorities of the French Revolution was to eliminate this right.

    Now 'Rack and Nick, just red-blooded, middle-aged, American and French males, may have meant no harm. Just a peek, not "all the way."

    But the parents were not amused. In the current world, with growing inequality of wealth and power, it is all too easy to lose (or least fear losing) your daughter to someone with one or both of these attributes. Tolstoy wrote poignantly about this fear in "The Stationmaster," whose daughter was stolen by a passing army officer.

    And what would Michelle and Carla think?

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