Hello
The markets are taking a break after a good end of the year, and we start the top ten with a 2024 memo from Jim Thorne. Jim called the market very well last year and he provides a short summary.
A big part of the returns in the US last year was from the ‘Magnificent Seven.’ I added a couple articles on those companies and how well they did.
Bruce Mehlman is one of the best on the global geopolitical arena and his slide deck on their 2024 Outlook. Check out slide 14 for some good news.
Peter Zeihan looks at Canada from a geopolitical lens and thinks we have three problems.
Fossil fuels is such a big part of our lives, and a professor explains that it would be really tough to do without. The people at Doomberg goes back to a message from President Jim Monroe and they explain how the Western Hemisphere can more than take care of themselves for their energy needs.
I was happy to hear that my oldest son follows Douglas Murray, as Douglas as stood out as a powerful and thoughtful voice the last number of months. A discussion with him and Chris Williamson focuses on the importance of surrounding yourself with ‘courageous people’.
I also thought I would share a speech from David Brooks from last month in Philly. ‘How to Know a Person: The Art of Seeing Others Deeply and Being Deeply Seen’
David talks about treating people by being more considerate and reserved…..being illuminators and not diminishers. He says that first gaze is so important and look into people eyes like it is the face of god…with reference and respect.
He says “attention is a moral act”….there is the process of accompaniment, there is conversation and try to be a loud listener. Make people authors and not witnesses and keep people in the story mode….and don’t fear the cause.
Don’t be a topper he says…..and find the disagreement under the disagreement. And remember the quality of conversations is the quality of the questions…open ended story telling questions.
David also gives great ideas on how to help people with depression and ideological differences. His reference to a scene in Good Will Hunting is brilliant and I included the link.
To close, a delightful story of a woman who passed away last month at 100 years old and who made such an important recommendation back in 1941. Thank you, Ms. Sweeney!!
David
Number 1-Thorne- Memo to begin 2024-- Now we reflate! (attached)
The landscape presents a complex interplay of economic, technological, and investment dynamics, requiring a nuanced understanding of historical, current, and future trends. Consideration of these dynamics is crucial for informed decision-making in monetary policy, investment, and economic analysis. Keeping it simple: we are at the beginning of a reflation cycle that lasts until the end of 2025. Risk on.
Number 2-Magnificent Seven
The “Magnificent Seven,” consisting of Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA and Tesla, have significant weighting in the S&P 500. These stocks make up 29% of the index.
https://www.fool.com/investing/2023/12/30/this-magnificent-seven-stock-is-up-120-in-2023-her/
Number 4-Canada, After America || Peter Zeihan
https://www.youtube.com/watch?v=zLDEv50zvzU
Three problems he thinks we have……immigration…income imbalance…The US (always used to get concessions…not anymore)
Number 5-A World without Fossil Fuels
https://youtu.be/_klzTjNsRH0?si=YSqWyVmkuKg3W-QU
Environmentalists advocate for a world without fossil fuels. But what would the real-life consequences be? Would it even be a world you would want to live in? He concludes with some comments from Vaclav Smil.
Number 8-Courage
“Most People Are Cowards” – Douglas Murray
https://www.youtube.com/watch?v=QnXCiGbrc1A
Surround yourself with courageous and brave people and not cowards.
Number 9- Brooks | How to Know a Person: The Art of Seeing Others Deeply and Being Deeply Seen
https://youtube.com/watch?v=YwENbKn3tqI&si=l0E7w0Nu5kJXcA85
Recorded November 1, 2023 Acclaimed for his ability to “elevate the unseen aspects of private experience into a vigorous and challenging conversation about what we all share” (San Francisco Chronicle), David Brooks has written an op-ed column for The New York Times since 2003. Also, a writer for The Atlantic, he formerly served as an editor and columnist at The Weekly Standard and The Wall Street Journal. He frequently appears on PBS NewsHour, Meet the Press, and NPR’s All Things Considered. His books include the bestselling Bobos in Paradise, The Social Animal, The Road to Character, and The Second Mountain, which posits that those who embrace lives of deeper commitment and service to others find greater fulfillment. In How to Know a Person, Brooks offers a creative guide for truly looking another person in the eyes and, through them, understanding something deeper about ourselves
Good Will Hunting Scene ; https://www.youtube.com/watch?v=8GY3sO47YYo
We hope you found the Top Ten interesting this week, and are looking forward to another selection of articles, stories, and commentary next week. If you know of anyone else who would be interested in receiving our weekly note, please let me know.
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