James, I am sorry that it has been five months since I wrote one of these letters to you.  Time does fly by. This may be a microcosm of our time with you and Elizabeth – your childhoods will fly past us. There is so much I want to write about – and recently I have been doing more writing for my blog than anything else. And when I write, I am trying to use stories to illustrate an epiphany or uncover some type of universal truth, if there are such truths. Speaking of truths, Alan Arkin, who passed away recently, put it bluntly, “There are only two truths.  There…

In addition to trying to do some writing, taking care of the farm, enjoying our grandchildren, maintaining our Lake House, spending a lot of time with the Louisa Education Foundation, and not to mention traveling a little, I do have a day job as a municipal advisor. Yes, it is part time, but with a current stable of 10 clients, it does take a little time. So, every now and then I write a Market Update for the industry. The links will take you to the Pearl Creek Advisors’ Website, where the most recent market update resides. Here is why you may want to read it. The United States cannot…

When talking about the myth of the self-made man, there is a corollary myth that investment bankers like to tell themselves – that they are simply smarter, harder-working, and more resilient than everyone else. I believed that corollary myth for much of my days as an investment banker. It wasn’t until I looked back at my career that I understood how pretentious and ungrounded it was.  Being smart, hard-working and resilient help in success.  However, you also need luck and some angels, two of which appeared in my life in 1989. When I graduated from business school at UNC Chapel Hill in 1987, I, like several of my classmates, wanted…

As I board my plane to Richmond and take my aisle seat, I notice a young woman sitting next to me. She keeps looking out of her window. Her hands are clinched – almost into fists. I am one of those people who does not talk to people on planes, especially when traveling for work. I use that precious time to catch up on work or to relax reading a book.  I discouraged eye contact and would attempt to make myself smaller – trying to attract as little attention as possible – in case the person next to me misinterprets any sign that human interaction was welcomed.  And to ensure…