Every year around this time, it seems as if people are oddly compelled to remark on the passage of time. Specifically, they mention how surprised they are to see the year coming to a close, and marvel at how it is they didn’t see it coming. “I can’t believe it’s December already!” or “How is the year almost over?” are common enough statements you’re likely to hear in the weeks and months leading up to the next calendar year.
And rightly so. At least in this calendar year, amid all the talk of debt bubbles, elections and fiscal cliffs, it has been supremely easy to let time slip by unnoticed. And that’s the danger, when we let our guard down… And time is free to make fools of us… And our mistakes are doomed to be repeated. So any opportunity for sincere reflection, no matter the impetus, is something we think everyone should seize.
So, in that spirit, we will continue with our Daily Reckoning Best of 2012 Series. In today’s installment, we extend our theme of contemplative reflection, with an insightful piece from our Managing Editor, Joel Bowman, on the unfortunate state of the State, and the plight — and subsequent flight — of one of its most enterprising citizens. And we follow that with a commencement address from our Editor-in-Chief, Bill Bonner — one that no one would be invited to give, but that every graduate should be made to hear. You can find them each right here:
Run, Saverin! Run!
To the Class of 2012
for The Daily Reckoning
Greg Kadajski is the Associate Editor of The Daily Reckoning. He holds a BS from Towson University where he studied both English and Filmmaking. Since joining Agora Financial in 2006, he's been very closely involved in the overall production of The Daily Reckoning - reading, editing and occasionally contributing to the wide variety of material that appears in its pages. He lives in Baltimore, Maryland.
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The Biotech iShares ETF is up 23% since the Oct. 15th bottom. No, that is not a typo. Biotechs have torched the S&P over the past two months--more than doubling the returns of the big index. And biotechs as a group are up more than 38% year-to-date. In fact, since we first highlighted the June comeback, the Biotech iShares have gone nowhere but up.
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