“More great fortunes are made during bad times than good times.” -- Rhett Butler in Gone with the Wind This quote is in honor of Richard Jenrette, who passed away last week. He cited it in his memoir, The Contrarian Manager. Jenrette co-founded the legendary firm Donaldson, Lufkin, & Jenrette. Success on Wall Street is not rare; a great culture is. I had the good fortune to meet Jenrette, and he made a profound impression on me. The world has lost a great man. Safe Haven Impostors? Most commonly presumed “safe haven” investments do a poor job according to hedge fund manager Mark Spitznagel. He warns that many will fail to deliver the protection investors expect. Others will likely perform as
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