The world’s first pension crisis

In the late in the 5th century BC, the government of ancient Rome came up with a new idea that has lasted for thousands of years.

I’m not talking about their roads, republican form of government, or water sanitation.

Their bold idea was to start paying retirement benefits[...]
  • Houston

Mike Tyson vs. The Grilled Cheese Truck

[Editor’s note: This letter was written with Tim Price, London-based wealth manager and co-founder of Price Value Partners.]

It was just over two years ago that “The Grilled Cheese Truck, Inc.” began trading in the US stock market under ticker symbol GRLD.

GRLD was exactly what it sounds[...]
  • Houston

This guy has eight passports

A few weeks ago I caught wind of a guy who has citizenships from eight different countries.

This “octa-citizen” has passports from Canada, UK, Ireland, Belize, Grenada, Dominica, St. Kitts, and Cape Verde.

Let’s be honest-- that's probably way too many. But the concept of acquiring multiple nationalities[...]
  • En Route to the United States

075: It’s time to start believing in the Impossible

I’ll start today with a confession: I’m an unabashed optimist.

I believe that this is one of the most exciting times in all of human history to be alive. And with good reason.

Think about it-- compared to thousands of years of violent warfare that ravaged most of[...]
  • Sovereign Valley Farm

Just a quick reminder: the Federal Reserve is almost insolvent.

September 10, 2008 was one of the last “normal” days in the world of banking and finance.

That afternoon, the US Federal Reserve published its routine, weekly balance sheet report, indicating that the central bank had total assets worth around $925 billion.

Just a few days later, Lehman[...]
  • Santiago

Nine years later, Greece is still in a debt crisis…

Sometimes you have to marvel at the absurdity of the financial universe in which we live.

On one side of the Atlantic, we have the United States of America, which triggered yet another debt ceiling disaster last Thursday when the US government’s maximum allowable debt reset to just over[...]
  • Santiago