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In the mid-1800s at a time when the United Kingdom was still the dominant superpower in the world, an English scientist named Francis Galton wrote a series of papers arguing for the selective breeding of human beings. Galton’s ideas became known as eugenics. The concept was that genius and talent were hereditary traits
[Editor’s note: Tim Price, London-based wealth manager and co-manager of the VT Price Value Portfolio, is filling in for Simon today.] Here’s some food for thought. There’s been so much discussion over the past few years, and 2016 in particular, about the roaring US economy and stellar performance of US companies. As an
Not too long ago my step-dad had to spend a few days in intensive care. Pretty scary stuff. He had just about every nasty symptom imaginable, from constant vomiting to dizziness to ultra-high fever, but the doctors couldn’t figure out why. Fortunately his condition improved enough that he was released from the hospital,
The state of Michigan is not exactly known for its balmy weather this time of year. And residents reasonably do what they have to do to cope with often extreme winter temperatures. Last Thursday a man named Taylor Trupiano of Roseville, Michigan did what a lot of people do in cold climates. He
Yesterday on the drive back to Santiago from one of our blueberry farms, I stopped to visit some friends who lived in the area. About a year ago they bought some land in Chile’s incredibly fertile 7th region, which boasts a rare Mediterranean climate. It never gets too hot, and it never gets
I remember the first time I ever saw a $100 bill. It was back in the early 80s, I must have only been 5 or 6 years old. My parents took my sister and I to a fancy restaurant, and I distinctly remember a man dressed in a dark business suit a few
Steve Kroft has a problem with second passports. Specifically, the reporter and his team of producers slammed “Citizenship By Investment” programs in an editorial piece that aired on 60 Minutes this past Sunday night. As we’ve discussed before, many countries around the world, including Malta, Dominica, St. Kitts, and Antigua, have Citizenship By
According to the latest statement issued yesterday afternoon by the Department of Treasury, the US national debt has reached $19,976,826,951,047.80. That’s $19.976 trillion, as of the close of business on Friday December 30, 2016. (The government is typically a day or two behind when it sends out these reports.) That number itself is
It’s amazing what can happen in a week. Before this publication went on hiatus last week, one of the last letters I wrote to you in 2016 was about the National Defense Authorization Act and its treasure trove of freedom-killing provisions. Section 1287, for example, creates a new agency called the “Global Engagement
In the late 1400s, the city-states of Italy were among most dominant powers in the world. Most of the city-states had abandoned the feudal system that persisted across Europe. So Italy was one of the only places on the continent where anyone, including foreigners, could work hard, take risks, and become wealthy. People
Around the time of Passover in 67 AD, the Jews of Judea were in the midst of a major rebellion against the occupying Roman Empire. Riots and violence were commonplace, and an organized rebel force of more than 25,000 men fought regularly against the imperial legions. But a small group of zealots decided
One of the quirks about being an expat in a faraway land is that, whenever something unusual happens in your home country, your local friends look to YOU for answers. You become, by default, the de facto expert of your home country’s nuances. Case in point: this weekend we had an intercompany Christmas
On January 17, 1917, as the Great War raged in Europe, the government of the United States signed a deal to purchase the Virgin Islands from Denmark. The agreement transferred Denmark’s territories in the West Indies, “including the islands of Saint Thomas, Saint John and Saint Croix together with the adjacent islands and
If there’s one thing that’s certain in the intelligence business, it’s that there’s rarely any certainty. That’s pretty much the first thing they teach you at spy school. Back in the early days of my intelligence career, I had one instructor who explained it in a way that I’ll never forget. “If you
One of the best books I’ve ever read is the autobiography of Charlie Chaplin. That’s probably not what you were expecting. But it’s true. Chaplin’s book is a remarkable story of his impoverished childhood in England, subsequent migration to America, and rise to wealth and worldwide stardom. Chaplin lived the textbook American Dream.
