Frederick Sheehan

Tail Risk

In a recent memo to Oaktree Capital clients, Chairman Howard Marks writes about “the time I spent advising a sovereign wealth fund about how to organize for the next thirty years.

What Does the Media Do?

Frederick J. Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009), which was translated and republished in Chinese (2014). He is research…

The Killing Fields

The house organ for the Council of Foreign Relations, Foreign Affairs, has published its final solution under the title: “Print Less and Transfer More: Why Central Banks Should Give Money directly to the People.”

End-of-the-Cycle Mispricing

Frederick J. Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009), which was translated and republished in Chinese (2014). He is researching…

The Old Regime and the French Revolution

Untitled

On this 225th anniversary of liberté, égalit́́e, and fraternité, Alexis de Tocqueville’s The Old Regime and the French Revolution (L’Ancien régime et la revolution), published in 1856, is, if not as invigorating as La Marseillaise, a worthy reflection upon Bastille Day. Following are some excerpts from Chapter eight, which carries the subtitle: “How, given the facts set forth in the preceding chapters, the Revolution was a foregone conclusion”: