Month: December 2021

Investment Discussion Group: Jan 3, 2022, 10:00

Investment Discussion Group Meeting, Monday, January 3, 2022, 10:00 a.m.

 

On Monday, January 3, 2022, commencing at 10 am, Jim Phillips will host a virtual meeting of the Investment Discussion Group. After a review of the macro-outlook, the group plans to cover the latest developments with respect to streaming/entertainment companies, with input from Dennis Leibowitz, and the increased interest in alternative investment managers, with remarks by Jim Phillips. As usual, members should feel free to present companies they view as “conviction buys” or long-term holds following a correction.

Christmas Bell Ringing at Palmers, 9-5, Dec 12 & 20th, 2021

Chairman: Frank DeLeo

Bell Ringing at Palmer’s for Darien Human Services

Raising funds to help needy Darienites by soliciting donations from Palmer’s shoppers at Christmas has been a long-standing DMA tradition.  Due to COVID-19, we couldn’t perform this important service in 2020. Fortunately, we were able to re-start this activity this year with teams of 2 (and one team of 3) ringing a handbell and greeting shoppers on their way in and out of the store on Sunday, December 12 and Monday, December 20. We had 25 people participate, including 3 members who rang on both days as well as a wife and granddaughter who joined their respective DMA members. Thanks to all who helped and to Palmer’s for letting us use their space and leverage their shoppers.

For several reasons, our historical relationship with the Salvation Army for this activity was no longer an option. So, we partnered directly with the Darien Human Services Department (DHS) (who had been our historical benefactor and go-between with the Salvation Army), focusing on their direct funding activities related to housing, energy, food and clothing assistance.  We also had brochures about DHS at our table to help publicize the breadth of services they provide. By partnering directly with DHS, we were able to ensure that the funds raised would go 100% to Darien residents.

We were blessed with good weather on both days (sunny and not too chilly). Thanks to the extraordinary generosity of Darien residents/Palmer’s shoppers (and the warmth and engaging demeanor of our bell ringers – many of whom enhanced the spirit of the season by wearing Santa hats), we raised $1,350 on the 12th and $1,125 on the 20th, for a grand total of $2,475. The DHS Director was thrilled and extremely appreciative since past years’ daily donations were typically in the $400-$800 range. What a great way to re-institute one of our traditional Community Service activities. We not only made a significant contribution to our neighbors, but we also raised the bar for future holiday fund raising at Palmer’s!

Current Affairs: National Intelligence Council, Friday, January 28, 2022 at 11am

Current Affairs: Quadrennial Report of the National  Intelligence Council, Friday, January 28, 2022, at 11 am 

White paper summarizing the issues: DMA Current Affairs White Paper January 2022

On Friday, January 28, at 11 am, Tom Igoe will lead a Current Affairs discussion on the latest  quadrennial report of The National Intelligence Council (NIC or Council) entitled Global Trends  2040: A More Contested World. The NIC supports the Director of National Intelligence in her role  as head of the Intelligence Community and is the IC’s center for long-term strategic analysis. Since  its establishment in 1979, the NIC has served as a bridge between the intelligence and policy  communities, a source of deep substantive expertise on intelligence issues, and a facilitator of  Intelligence Community collaboration and outreach. 

The NIC’s report is typically released at the start of each new administration with the intent of  providing guidance as to the key trends and uncertainties that will shape the strategic  environment for the United States during the next two decades. The goal of this report is not to  offer a specific prediction of the world in 2040 but rather to help policymakers and citizens see  what may lie beyond the horizon and prepare for an array of possible futures. 

As the report notes in its sobering introductory passages, during the past year, the COVID-19  pandemic has reminded the world of its fragility and demonstrated the inherent risks of high  levels of interdependence. In coming years and decades, the world will face more intense and  cascading global challenges ranging from disease to climate change to disruptions from new  technologies and financial crises. These challenges will repeatedly test the resilience and  adaptability of communities, states and the international system, often exceeding the capacity  of existing systems and models. This looming disequilibrium between existing and future  challenges and the ability of institutions and systems to respond is likely to grow and produce  greater contestation at every level.  

In this more contested world, communities are increasingly fractured as people seek security  with like-minded groups based on established and newly prominent identities; states of all types  and in all regions are struggling to meet the needs and expectations of more connected, more  urban, and more empowered populations; and the international system is more competitive – shaped in part by challenges from a rising China – and at greater risk of conflict as states and  nonstate actors exploit new sources of power and erode longstanding norms and institutions that  have provided some stability in past decades. 

The NIC asserts that these dynamics are not fixed in perpetuity, however, and envisions a variety  of plausible scenarios for the world of 2040 – from a democratic renaissance to a transformation  in global cooperation spurred by shared tragedy – depending on how these dynamics interact  and human choices along the way. 

The Global Trends 2040 report, a copy of which can be accessed by clicking the link below, is a  detailed 145-page document that provides a broad range of factual and analytical material. It is  well written and thought provoking. Given its length, some DMA members may not have the time 

or the desire to plow through the entire document. For these folks, I encourage you to read the  Foreword Section (pps. v and vi), the Introduction: Key Themes (pp. 1 – 5), the Executive  Summary (pp. 6 – 13), the Scenarios for 2040 (pp. 109 – 119), and the informative charts included  at the back end under the heading Regional Forecasts (pp. 120 – 140).  

Navigating this report can be humbling. It’s also an experience that awakens many new  understandings and thoughts on possible outcomes for the long-term prospects of the world in  which we live. In advance of our Current Affairs discussion, Mike Wheeler will send to the discussion group a poll eliciting your thoughts. The results will be shared at the conclusion of our discussions. 

Given the complexity of the subject matter and the numerous areas to be covered, members may  expect the discussion to continue for up to an hour and a half from the 11 am start time. 

The following includes links to the Global Trends report and additional reading materials intended  to supplement the information included in the report:

  1. National Intelligence Estimate: Climate Change and International Responses Increasing  Challenges to U.S. National Security Through 2040, dated October 2021:  https://www.dni.gov/files/ODNI/documents/assessments/NIE_Climate_Change_and_N ational_Security.pdf
  2. Department of Defense Climate Risk Analysis, dated October 2021:  https://media.defense.gov/2021/Oct/21/2002877353/-1/-1/0/DOD-CLIMATE-RISK-ANALYSIS-FINAL.PDF
  3. Wall Street Journal Opinion Piece by Graham Allison and Eric Schmidt, dated December  8, 2021: China Will Soon Lead the U.S. in Tech: https://www.wsj.com/articles/china-will-soon-lead-the-us-in-tech-global-leader-semiconductors-5g-wireless-green-energy-11638915759?st=rsg20va9jcntz7m&reflink=article_email_share
  4. Wall Street Journal Opinion Piece by Henry Kissinger, Eric Schmidt and Daniel  Huttenlocher, dated November 2, 2021: The Challenge of Being Human in the Age of AI:  https://www.wsj.com/articles/being-human-artifical-intelligence-ai-chess-antibiotic-philosophy-ethics-bill-of-rights-11635795271?st=hamxya5815muur0&reflink=article_email_share
  5. Wall Street Journal Book Review by Tunku Varadarajan, dated November 20, 2021: The  Principles for Dealing With the Changing World Order by Ray Dalio:  https://www.wsj.com/articles/principles-for-dealing-with-the-changing-world-order-book-review-ray-dalio-trouble-ahead-as-usual-11637335545?st=qom93w21su8v8n5&reflink=article_email_share
  6. Spiked-Online Opinion Piece Why China Haunts America by Phil Mullan, dated  December 31, 2021: https://www.spiked-online.com/2021/12/31/why-china-haunts-america/
  7. Foreign Affairs Article, China’s Economic Reckoning: The Price of Failed Reforms by  Daniel H. Rosen: Current Affairs China’s Economic Reckoning  
  8. Wall Street Journal Review Piece, dated January 15-16, 2022, by Kathryn Stoner: The  Putin Puzzle: Why Ukraine/ Why Now?  https://www.wsj.com/articles/the-putin-puzzle-why-ukraine-why-now-11642175999?st=yaqpxmecnayrvxb&reflink=article_email_share
  9. Wall Street Journal Opinion Piece, dated June 23, 2021, by Thomas Grove: Melting Arctic  Ice Pits Russia Against U.S. and China for Control of the New Shipping Route:  https://www.wsj.com/articles/melting-arctic-ice-pits-russia-against-u-s-and-china-for-control-of-new-shipping-route-11624445504?mod=Searchresults_pos2&page=1
  10. Putin Has the U.S. Right Where He Wants ItVladimir Putin’s aim is bigger than closing NATO’s “open door” to Ukraine and taking more territory.https://www.nytimes.com/2022/01/24/opinion/russia-ukraine-putin-biden.html?smid=em-share

Global Trends Report: GlobalTrends_2040

Given the complexity of the subject matter and the numerous areas to be covered, members may expect the discussion to continue for up to an hour and a half from the 11 am start time. 

 

 

Hike Greenwich Point Park, Dec 9, 2021, 10:30

“HIKING” GREENWICH POINT PARK

  7 TOD’S DRIFTWAY, GREENWICH

  THURSDAY DECEMBER 9, 2021

10:30

 

We will be walking around Greenwich Point starting at 10:30 am.  

NOTE THAT THIS START TIME IS ONE HALF HOUR LATER THAN OTHER HIKES. We will be walking about 3 miles over flat, mostly paved or packed gravel paths, which should take us about an hour and a half.

Greenwich Point is a 147 acre property owned by the Town of Greenwich which bought the property in 1945. The peninsula, surrounded on three sides by water, was the private estate of J. Kennedy Tod who purchased the property in the 1880s. Greenwich Point offers spectacular views of Manhattan and the Greenwich shoreline. It is a beautiful place to walk and only available to non-Greenwich residents (without a substantial fee) during the months of December-April. You will not regret coming on this “hike”!

We will assemble in the first parking lot on the right after you pass the gatehouse. Greenwich Point can be windy and cold so layer up! Dogs on a leash are permitted and, as always, bring guests.

We will have an optional lunch at Louie’s Italian Restaurant in Cos Cob at 136 River Road Ext, a 12 minute drive from the Point.

DIRECTIONS: Google Greenwich Point Park for guidance

Contacts: Dave McCollum and 203-858-5688 and Bob Plunkett

 

Followup:

An enthusiastic group of 16 braved cold and windy, but bright, conditions over a little more than 3 miles at Greenwich Point this morning. This was our first chance to tour the spectacular peninsula after a two year absence due to weather and Covid. The wait was worth it, as it always is at GP. We had a fairly good view of Manhattan and a
very look at the Greenwich shoreline on our way around. Except for a stretch of about 400 yards, the trail is hard packed or pavement and very flat. We attracted four guests and the total group was the largest since Sherwood Island last year. J Kennedy Tod picked a beautiful place to site his mansion over 130 years ago and, like many of the places we hike, a municipal, state or charitable entity had the foresight to acquire the property for the benefit of future generations. Wildlife report-birds, nonlife report-one dead fish.

The group transferred to Louie’s Italian Restaurant in Cos Cob for a great lunch after the hike. This was the 8 th and final hike of 2021, an activity well suited to the unusual conditions of this year. Thanks to all who participated! We
hope to schedule some more hikes over the winter months.
Dave McCollum and Bob Plunkett