Another crazy week everywhere: the markets, politics and not least the future of the republic. We just can’t catch a break. Republicans are slicing each other to shreds in the fight for their nomination, a smaller number of Democrats are doing the same, and before you know it, the two survivors will be kicking each other in the groin in the fight for the highest office in the land. And even more metaphorical (we hope) blood will be shed in the struggle over who is to succeed the late Antonin Scalia on the Supreme Court. That sort of thing in par for the course in New Jersey, where the Legislature has refused to act for years on Governor Chris Christie’s high court nominee, but Washington used to seem more mature. Nobody there is even looking for common ground, while the republic flops from side to side like a fish out of water.
Speaking of Governor Christie, his situation seems to be getting worse by the day. A half-dozen Garden State newspapers have asked him to resign as he enters a new phase of his political career, or whatever you want to call the guy who stands behind a candidate during a victory speech. Come on, Governor, you are better than this. If all this wasn’t enough to keep us glued to the news this week, the hedge fund industry is once again getting headlines that aren’t all that positive. Citadel is trimming its work force, Buffett is going to win his ten-year bet on whether hedge funds can outperform an index fund and Goldman Sachs has announced that it is taking its hedge fund research platform and turning it into an exchange traded fund. Oh, and for the first time in something like thirty years, members of OPEC have reportedly gotten together with non-members to figure out a way to deal with sinking oil prices. Again, you can’t make this stuff up.
The good news is that on March 23 at 2 p.m. EDT, I will be co-hosting a webinar entitled Due Diligence 101. It is the first in IMDDA’s 2016 monthly webinar series. You can learn more about the webinar, the series and how to register by clicking here.
THINGS THAT DRIVE ME CRAZY
While I am not backing a specific candidate in the election yet, I will say this: I was truly sickened by Donald J. Trump’s comments at the debate last week and a few weeks back where he blamed President George W. Bush for the events of 9-11. It was completely outrageous, inappropriate and naïve. Mr. Trump needs to apologize to the former President and the entire country for this remark. While many of Trump’s remarks are outlandish, ridiculous, childish, moronic, sophomoric and silly, this was completely inappropriate and hurtful. Not to mention factually wrong.