Big news today is the better-than-expected jobs report here in the US. Or just not as bad as expected. But it's noise. Things are not good and we're in for a long slog yet. And with the weekend come five more items you might check out. Note, though, that if you're into value investing you should take the time to read the Tim McElvaine posted earlier this week if you haven't already.
- Last week I linked to Peter Brimelow's MarketWatch column on the passing of Irwin Yamamoto, publisher of The Yamamoto Forecast newsletter. Charles Kirk of The Kirk Report struck up a friendship with Yamamoto over the past few years, and writes about lessons we can learn from the man. These certainly apply to investing -- but also offer lessons for living life as well. I had heard of Yamamoto's newsletter because Barron's occasionally quoted from it in the section where they excerpt advisory services. But I wish I knew more about him. He died in July at the young age of 54. R.I.P.
- David at the Finance Trends blog links to a panel about the role culture played in the economic crisis. I particularly enjoyed remarks by John Templeton Jr., son of Sir John, but an accomplished man in his own right who is a lot more than the child of a famous person. Thrift and generosity are virtues. And giving them their due can help turn back the tide of the entitlement-mentality virus infecting so many.
- Gary North is another long-time investment newsletter writer. And like many, he's pro-gold, pro-Austrian economics, very libertarian (though he may not approve of that label). As I recall, he was among those thinking Y2K would/could be a devastating event. I've read him on LewRockwell.com over the years. Yet I've never HEARD him -- so this audio interview with Lew Rockwell might prove interesting. It clocks in at just over 16 minutes.
- With its wealth of natural resources, Africa will become more and more important geopolitically. And Nigeria will be a major player in the Dark Continent's future. Africa Confidential reports on Islamists "raising the stake" in this pivotal nation for Africa.
- Budd Schulberg, writer, died this week at age 95. This obit in The New York Times gives a great overview of his career. His book, "The Harder They Fall," was made into a movie, the last one Humphrey Bogart made. Bogie was diagnosed with cancer just days after completing filming. The movie was released in 1957, an under-appreciated boxing flick.
That's if for now -- have a great weekend.
John, was just coming over to see your weekend reading list. Thanks for mentioning the Capitalism & Culture post/video. Glad you enjoyed it, I hope a few more people get to see it now!
I saw Charles mention the Yamamoto post on Twitter, but haven't had a chance to look at it. Will do that, and thanks as well for the heads up on North interview & the rest. Good stuff as usual!
Posted by: David | August 07, 2009 at 05:44 PM
@David: You're welcome -- great stuff.
Regarding, Yamamoto. I'm sure you'll appreciate it. We'd all like to be "contrarian" to a degree. But many fall into the trap of being contrarian for the sake of it. Apparently Yamamoto was the real deal.
Posted by: John | August 07, 2009 at 08:40 PM
Read Charles' Yamamoto post yesterday & found it so insightful (in a variety of ways) that I bookmarked it as soon as I finished reading. Thanks again!
Posted by: David | August 08, 2009 at 06:22 PM
@David: You're welcome, my friend. Kirk wrote a fine appreciation of the man, giving those of us who didn't know Yamamoto a feel for the person. Really wish I knew more about him, though he kept a low profile and probably wanted it that way.
Posted by: John | August 08, 2009 at 09:21 PM