(Writing from Brazil this morning) – I read everything Don Coxe writes that I can get my hands on. This is the 20th-anniversary issue of Basic Points (can it be that long?). I love his mix of history and markets, and this issue is no exception.

"... Basic Points was born in Toronto twenty years ago…

"From the beginning, believing that long-term investing should be rooted in the basics of history, we have tried to focus on the 'big picture' stories that future economic historians would write about. It has been a great run. On this anniversary, we, Januslike, look both backward and ahead, as we prepare to cease publishing this journal. The world has changed, and the global evolution of economic leadership, as major Third World nations moved from poverty to progress, became the biggest investment theme chronicled in these pages: 'We are living through the greatest efflorescence of personal economic liberty in the history of mankind.'”