Competing to Live: On Planet Earth and Being in Nature

by Nick Werle David Attenborough reserves a certain mournful tone for narrating death in the natural world. In the Jungles episode of BBC’s epic documentary series Planet Earth, we hear that voice, interspersed with the rich, crackling sound of splintering wood, as we see a massive rain forest tree collapse under its own weight after…

Adventure Capital: Condos, Groupon, and Big Pharma

By Nick Werle The late economist Hyman Minsky wrote that after fortunes inflate on the back of a speculative bubble, and after investors’ irrational optimism and overvalued assets inevitably collapse, an economy enters a “period of revulsion,” when people remember that it’s risky to bet big on an uncertain future. Likewise, it’s always during the…

Football, Finance, and Surprises

As the New Orleans Saints lined up to kick off the second half of Super Bowl XLIV, CBS Sports color commentator and former Super Bowl MVP Phil Simms was explaining why the Saints should have deferred getting the ball after winning the pregame coin toss. Simms suggested that the Saints, 4½-point underdogs to the Indianapolis…

Should We Fear Fear Itself?

People are worried about the Euro. As bad news flows out of Europe – persistent unemployment, popular discontent over painful austerity measures, and catastrophic bank losses tied to still-deflating real estate markets – international investors continue to cast doubt over the Euro-Zone’s short- and long-term stability. Fear of at least a partial disintegration of the…

To Spend or Not To Spend: The Austerity vs. Stimulus Debate

Public sector austerity has come back to the West in a big way. Governments throughout the European Union are wrestling against striking civil servants, a stagnant private sector, and an entrenched public welfare system to drastically reduce spending. The budget cuts are broad, and they run deep. Under pressure from global financial markets and the…