Notes on the Week Ahead

Marathon running is not, generally, much of a spectator sport. Not a lot happens for over two hours until someone finally crosses the finish line in jubilation. However, well before that point, the race is usually decided by a contest between a hare and the pack.

A number of years ago, I worked for a Swedish asset management firm and this occasionally required me to journey to Stockholm. On these visits, I was generally impressed by the good humor and intelligence of my Swedish colleagues. I was surprised, however, by two things: The quantity of alcohol they could drink at night and the amount of strong coffee they could subsequently consume the next day.

It's 4:30 p.m. and my plane has just landed at Logan. In 15 minutes, I'll be in my car but it could be two hours before I'm home. I live 20 miles from the airport but at this time of day there is just no fast way to my house. In short, my car is fueled for speed but there are roadblocks in every direction. Something similar could be said about the U.S. economy today.

One of the most annoying habits of American retailers is that they never let you enjoy the season you’re in.As the kids go back to school, they’re selling snow shovels.