-I have been busy doing a million things this year so far that don’t put in cash in my back pocket but do give me a lot of good information. Here are some odds and ends that I have gleaned from a lot of different conversations I have had with people.
-Black people are becoming a lot more interested in entrepreneurship. I am meeting them more and more. I know some organizations that are trying to target them to support them. That’s a great thing. They see opportunity and they are going for it. Entrepreneurship is an equal opportunity employer. No racism in scalable companies. If enough of them are successful, and I hope they are, you will see a lot more free market libertarians walking around the black community.
-The more I speak with market participants, the more I come to realize that the American banking balance sheet crisis is nowhere near solved, and it’s just as bad in Europe. Trillions of dollars of assets are incorrectly accounted for on bank balance sheets and there is no way for them to raise the capital to hold them. Their only choice is to find a buyer. All that supply is going to push prices down further. I’d look for more compression of multiples in the financial space. But once the balance sheets are actually clean, they might rocket.
-Jon Huntsman looks like the Rudy Guiliani of this campaign. With his accomplishments, he should have done a lot better but he was really unfocused.
-They play defense in the SEC when they put the pigskin in play. I can’t believe how many times LSU had second and long.
-The rhetoric I am seeing out of the left already leads me to believe this will be the ugliest Presidential campaign since 1802. The mud is going to fly because there is far too much at stake for the hard lefties if Obama goes down. They will lose their dream of socialized medicine, which Reagan correctly summed up in a video. If they can control your access to medical care, they can control you too.
-I made some short ribs last night. I love short ribs and think they are one of the greatest foods known to mankind when cooler temperatures prevail. In warmer times, it’s got to be a pounded hanger steak.
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