The Kensington Review

4 October 2004

Latest Commentary:

Sunday Morning Talkingheads Spin the Debate -- The Sunday morning jabberfests that pass for news programs focused on Thursday’s joint press conference held by President Bush and Senator Kerry. The spin began by the description of this event as a “debate,” and it rapidly got worse from there. When all was said and done, the American people were essentially asked to believe some self-appointed expert rather than their own senses.

Karzai Controls Media in Pre-Election Afghanistan -- There are 18 individuals running for the office of President of Afghanistan. One of them, President Hamid Karzai, is getting more than his share of media attention. As the incumbent, naturally, he has a job that puts his face in the spotlight. But with 85% of the editorial coverage and 75% of the media attention from state-run TV, the playing field is far from level. Even in political advertising, which all candidates receive, Mr. Karzai has three times the slots the nearest rival has. This media control undermines the legitimacy of the upcoming elections.

JPMorgan Study Says Hedge Funds Must Change Strategies -- Just as it is about to buy hedge fund Highbridge Capital Management, a hedge fund, JPMorgan has issued a report that says the fat returns earned by hedge funds will peter out unless they change their strategies. What JPMorgan wants is for hedge funds to focus on inefficient markets where they can profit from inefficiency -- which is what every speculator tries to do

Second Space Race Won by SpaceShipOne -- On the 47th anniversary of the Soviet Union’s launch of Sputnik, SpaceShipOne passed the earth’s atmosphere for the second time in a week. Thus, its developers Mojave Aerospace Ventures have won the Ansari X prize as the first successful private enterprise space program. But much more is needed before space tourism becomes a real industry.



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