"There is nothing new in the realization that the Constitution sometimes insulates the criminality of a few in order to protect the privacy of us all." -- Justice Antonin Scalia (1936-2016) After the San Bernardino massacre on Dec. 2, 2015, the FBI lawfully acquired the cellphone of one of the killers and persuaded a federal... Read More

I take perverse pleasure (note to self: discuss with analyst!) in parting company with my libertarian/lefty buddies on the issue of the FBI’s demand that Apple assist in accessing an iPhone phone of the San Bernardino shooter. The shadow of the People’s Republic of China—and the demands it plans to impose on US vendors of... Read More

People ask me why I am so negative on America. Not the least of my concerns is that U.S. corporations have long been splurging so much on buying back their own shares. Of course, investors love the trend and, as an investor myself, I know that buybacks often do wonders for a share’s short-term performance.... Read More

Apple‘s stock price is down nearly 10 percent from its September all-time high. Does this presage a fundamental change of direction or is the stock merely taking a breather before soaring to new highs? It is a big question with countless billions riding on the answer. I have been around long enough to know that... Read More