May
23
Who is the Golden Calf of Finance? from Victor Niederhoffer
May 23, 2011 |
Nicholas Biddle was known as the Golden Calf in the 1830s because of the bent knees, the subservient worship, and hat doffing that accompanied his every utterance and activity, in allusion to the false bowing to that beast in Exodus while Moses was preoccupied.
Who is the comparable Golden Calf in the financial world today, and will his fate be similar?
Indeed, are there golden calves in other fields that deserve to be treated with less reverence?
How can this be distinguished from the "Useful Idiot" or "Your Own Man" or "the Fifth Columnist", and can a scalogram of such be created?
Yes, inquiring minds want to know, and let us not refrain from starting our typology in the corn belt if the boots fit.
Pitt T. Maner III writes:
Might not Dr. Spock have fallen into one of the categories? Some ideas of his were right and some wrong with long and short term implications to the health of a generation.
Comments
1 Comment so far
Archives
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- Older Archives
Resources & Links
- The Letters Prize
- Pre-2007 Victor Niederhoffer Posts
- Vic’s NYC Junto
- Reading List
- Programming in 60 Seconds
- The Objectivist Center
- Foundation for Economic Education
- Tigerchess
- Dick Sears' G.T. Index
- Pre-2007 Daily Speculations
- Laurel & Vics' Worldly Investor Articles
the most difficult thing is to be completely independent in thought and have conviction. one must possess many character traits that many view as negative. perhaps these character traits are your physical reaction to fighting the human tendency to conform. conforming gets you everywhere in the short run and nowhere in the long run. the reverse for being independent. maybe like taking a a trade reverse of sentiment and you’re early, you take hits in the short term, but odds are higher you will be proven more right longer term.