Two Investing Classics, Plus a Third Destined to Achieve That Status

David Warsh: Economic Principals » Blog Archive » Beckoning Frontiers:

"It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change. In the struggle for survival, the fittest win out at the expense of their rivals because they succeed in adapting themselves best to their environment."

These days, job hopping is practically a way of life. Gone is the idea of spending four decades at one company, ultimately retiring with a gold watch and a pension plan.

Retired Montreal psychology professor Don Crosbie Donderi is convinced extraterrestrial life exists. The educator, who spent 47 years at McGill University, including as associate dean of the faculty of graduate studies and research — applies his insights into psychology to a book: UFOs, ETs, and Alien Abductions, a Scientist looks at the Evidence. It will be published in May. Mr. Donderi spoke to the Post’s Jen Gerson on Monday.

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After nearly 20 years as Sunday business columnist at The Boston Globe, and another eight as proprietor of Economic Principals -- a site that covers the lives, times and ideas of economists -- I have seen my share of books offering investment advice. The most valuable, it seems to me, are those whose authors came up with a thesis about the markets early and then kept refining and updating their ideas during the incredible expansion of financial markets that has occurred since 1975. Three of these, whose first editions appeared in 1982, 1978 and 1973, respectively, are already classics.

As Stan Collender says the key thing for any fiscal adjustment plan to say on the cut side isn’t really how much money you’re cutting, it’s what things do you want the government to stop doing. Once you name the things, you can total up the savings. Then you can either say you’ve cut enough, or else you can go back and name more things.

By Simon van Norden Today, we're fortunate to have Simon van Norden, Professor of Finance at HEC Montréal (École des Hautes Études Commerciales), as a guest blogger. "Once you've seen one financial market crisis...you've seen one financial market crisis." -- Attributed to Federal Reserve Board Governor Kevin Warsh by former US Treasury Assistant Secretary for Economic Policy Phillip Swagel in The Financial Crisis