Pinch me.

I saw my book on a shelf in a book store yesterday, and I got to tell you, it was electrifying. I always dreamed of the day that Iwould walk into a bookstore and see my book on a shelf. I have another recurring daydream where I walk into a music store, sit at the grand piano, and hammer out some flawless Brahms. However, I do not play the piano. I picked up a guitar at age 57, five years ago, and I am about as good as a seven year old. The piano thing is never going to happen. Then there's the daydream where I can tap dance like Gene Kelly. This won't happen either because my knees are shot; and I never had rhythm anyway. When I played youth football, I was the full back and the line backer-- a graceless wrecking ball.--and it set a pattern that brought me into journalism when I grew into adulthood and discovered that I was far too small for college or professional grid-iron, head bashing. Muck-raking was a decent alternative. But this book dream-- I knew I could write, but I never seemed to get a break with the agents or the publishers. So it seemed like another pipe dream. But the dream came true-- and now I'm sort of numb. Wonder how I'll feel on the day I spot the book on a remainders' table?

Markets and instability

I talk to a lot of market experts every working day. Many reach out to me because of my book, "Crapshoot Investing." They generally acknowledge that the markets are very unstable and have become that way as a result of the unintended consequences of SEC rules-- which is a thesis of my book. How to fix it? They certainly oppose more rules! They believe the SEC should subtract some rules so that the market can evolve in reaction to competitive forces. The SEC has so micro-managed the markets, the agency in effect has become the market's "invisible hand."
Another suggestion: the regulators should hire more economists and less lawyers.
A consulting group last week recommeded to Congress that the SEC be overhauled--but it's recommendations for change left the 20th Century, lawyer-dominated model in place.