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Time for New Thinking at the Defense Dept.

Very, very rarely I find a comment that is so brilliant, that I feel obligated to quote it verbatim, in its entirety. Anything less would dilute its meaning. This is what Defense Secretary Robert Gates said in a recent issue of Foreign Affairs. “Repeatedly over the last century, Americans averted their eyes in the belief that events in remote places around the world need not engage the United States. How could the assassination of an Austrian archduke in the unknown Bosnia and Herzegovina affect Americans, or the annexation of a little patch of ground called Sudetenland, or of a French defeat in a place called Dien Bien Phu, or the return of an obscure cleric to Tehran, or the radicalization of a Saudi construction tycoon’s son?” There is wisdom here for hedge fund managers and the rest of us too.