Thank You Don Coxe!
Donald G. M. Coxe
Last week, Don Coxe announced that the December issue of “Basic Points” will be his last after 20 great years.
While I have never personally met with Mr. Coxe in my years in the business, I have been a faithful reader of “Basic Points” and have heard him publicly speak on many occasions. I guess we should have done more business with Nesbitt!
There is so much noise, data and algos out there that it was wonderful to have a strategist actually remind us of where we have been and to “frame” our current reality within a historical context. That context was a cocktail of politics, philosophy, arts, history and economics. It made Basic Points one of the most entertaining and thought-provoking reads for people in our industry regardless of whether you agreed or not. One metaphor that stands out for me was his reference to heroin addiction (the result of pain management for injured soldiers) and today’s monetary policies. He was also never shy about voicing his views on those who have abused their position of power – especially U.S. bankers.
From his most recent Journal he comments on the U.S. elections with this observation:
“The best outcome would be a clean sweep –the White House and both houses of Congress – by one party or another. The winner would have no choice but to face the music.”1
I could not agree more. We need to face the music. Over the past 20 years, investment professionals have always hoped for political gridlock so nothing gets done. But the time for wasting time, and politics for political sake, is over. But Idigress – “May the best man win”!!
I will miss you Don!
1. The Coxe Strategy Journal, October 2012, page 28