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" ... Here I need to insert a "trigger" warning for all of the cloud-category and cloud-definition ankle-biters out there who are no doubt flying into conniptions at the very suggestion that "mainframe" and "cloud" can be used in the same sentence, let alone that anyone would actually try to deploy such a thing. And my warning is this: for you folks who obsess over theoretical inside-baseball arcana rather than the practical realities of what flesh-and-blood businesses want and need to thrive in the world of digital business, what you're about to hear will only get worse! ... "
" ... Is Theresa empowering herself? Do you honestly think she's worrying herself into conniptions about a glass ceiling at her company? She knows her job and she's good at it, but always looks for ways to improve. She's been in a few continued education and professionalization programs, although, no, she doesn't obsess over having her LinkedIn profile absolutely perfect. ... "
" ... Once again, it certainly has been a wild ride for the past three months and we clearly did not foresee all the market and economic conniptions, but for long-term global investors, our conclusion in March was correct for continuing to have a positive stance on a globally diversified portfolio of equities. Timing the markets is never easy, especially for large institutional investors, but the MSCI World Index actually rose an annualized 20% in USD terms since our last meeting, justifying our view. Clearly, global GDP continues to be in a soft patch, primarily caused by the fears and direct effects of the US-China trade/technology war. The question is how long will the war and soft patch last and what will central banks do about it? Recently, equity markets have strongly indicated little concern about persistent economic weakness and are looking forward to major improvements in overall conditions ahead, especially due to the Fed pivot towards cutting rates, while fixed income investors are assuming a large structural decrease in inflation in the years ahead (perhaps due to changing methods of CPI calculation), a global recession, or some combination of both. In the background, there is a generalized concern about being at the end of an economic cycle, coupled with high debt levels that are becoming hard to sustain, but we all know that this cycle is very different than all previous ones, so it is very difficult to predict, but at least central banks are giving the world another helping hand. However, we do not think such, when faced with our forecast of worsening tariff/tech wars and even higher geopolitical risk effects on market, will be able to keep equities and economies from undershooting consensus expectations. So, while Committee was fairly evenly divided between a moderately positive scenario and moderately negative scenario ahead, it tilted in the end for the latter. ... "
" ... This brings us back to Obama’s attempt to vilify and ridicule scientists who disagree with his lay scientific conjecture. Perhaps it is true that ridicule and vilification are common, if regrettable, aspects of contemporary politics. Most Americans would hope that the President of the United States would not demean the office by engaging in such mean-spirited and sophomoric behavior, but we have also come to realize that politicians will be politicians, no matter how much power they have attained. But this isn’t about one ambitious politician smearing another ambitious politician. This is about the President of the United States – a non-scientist – making a grossly dishonest mischaracterization and analogy at the expense of expert scientists and then encouraging our nation’s best and brightest to shout down those scientists utilizing further dishonesty and McCarthyism to further political agendas. And the moment somebody questions the President about such reprehensible conduct – no matter how calmly the question is asked – the political left goes into conniptions about how appalling and reprehensible it is to disrespect the Office of the President of the United States in such a manner. ... "