Foghorn Plays A Round at Petro Carnoustie

“It has been observed that absolute idiots play the steadiest golf.” 

19th Century Golf Writer, Sir Walter Simpson

Last Saturday broke gray and overcast in LA, and I headed off to my scheduled round of golf at a new course, Petro Carnoustie GC.  The weatherman said there was a mere 23.5526% chance of rain.  Petro Carnoustie was built on reclaimed oil company land in a “changing,” rather hilly district near Baldwin Hills.  The area had been a somewhat crime-ridden industrial area, and the course was located between a cemetery and a hazardous waste dump.  But the LA Times assured me that the new track was now “slicker than deer guts on a door knob, and ready for play.  I picked up my good friend, Lenny, the “Goober Mensch.” and drove over for our early tee time.  “Goober” is rather large, and for a big man, quite clumsy.  But if you’re worried about possible trouble in a tough neighborhood, the Mensch is the guy to have along. golfdirt

I let Goober tee off.  The first hole, named Texaco Dirt Nap, didn’t look totally “finished,” but the sign said it was a 410 yard par 4 with trees on the right, and um, tire tracks on the left.  Goober is partial to his slice, so he drove right.  Goob smiled and said, “I’m hitting the woods great, but I’m having a trouble getting out of them.”  With mulligans, shot forgiveness, and only occasional “hand mashie work” we both took 7s.  I was impressed with Petro Carnoustie for the catchy theme names on the holes.  It reminded me of Augusta National, except maybe for the holes, the hazards, the clubhouse and the players.Continue Reading

Bonds . . . James Bonds

11-4-2014 TUESDAY AFTER LUNCH MONEY MEMO By the Financial Foghorn Sign on the back of a Septic Tank Truck: “Caution – This Truck is full of Political Promises” An old Ronald Reagan story:  “Three dogs go into a bar.  An American dog, a Polish dog, and a Soviet dog. The American dog starts by saying,…

Iraq to the Future III

“I think they’re in the last throes, if you will, of the insurgency.” Vice President Dick Cheney, on “the” Iraq insurgency, June 20, 2005   As the Boeing 747 reached its cruising altitude, the pilot came on the intercom.  He announced their altitude, expected arrival time, a bit about the weather, and advised them to…Continue Reading

It’s May, Should We Be Running Away?

“Sell in May and run away, but remember, to buy again in November.” http://lexicon.ft.com/Term?term=sell-in-May-and-go-away-principle Two campers are hiking through the woods.  Suddenly, a huge brown bear appears in a clearing about 100 feet away and begins lumbering toward them. The first camper quickly drops his backpack, frantically pulls out a pair of sneakers, and begins…

More Pain or More Gain?

“Since 1985, there have only been three occasions when the miners have experienced a three-year decline but there has NEVER been a fourth consecutive down year.  2014 is “Year Four.”  —Analyst Michael Ballanger, Richardson GMP Three sons come downstairs and sit at the breakfast table on a Saturday morning.  Their mother asks the oldest boy…

The Fat Lady is Singing

“The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole.  This system was to be controlled in a feudalist fashion by the central banks…Continue Reading

The 2013 San Francisco Metals and Minerals Conference

“To buy when others are despondently selling and sell when others are greedily buying requires the greatest fortitude and pays the greatest reward.”   Sir John Templeton As a musician friend of the Eagles, J.D. Souther said, “Time passes, things change.”  Life is a timing thing.  As I’m sure you’re aware, the sons of Bernie Madoff…Continue Reading

Words for Thought

“Be not conformed to this world. Be ye transformed by the renewing of your mind.”  —Romans 12:2 A few “GREAT TRUTHS” stumbled across my email screen last week.  I decided to ignore some of them, but a few I pass along: 1.  “In my many years I have come to a conclusion that one useless…Continue Reading

Government Gets Back to Work. Watch Your Wallet.

“What do you call cheese that doesn’t belong to you?  Nacho cheese.”          Was the deadline-snug ending to the D.C. debt dance a benefit for our country?  Consider this: embedded in the legislation just passed and imminently to be signed by Obama is this sub-section: “Default Prevention Act of 2013.”  This particular provision, buried deep…Continue Reading