| CONTACT

Additional Thoughts from Michael Golub

Fareed Zakaria is a Senior Editor of Newsweek magazine, a best-selling author, and a brilliant observer of what is really going on in our world. Yesterday, I had the good fortune of watching his weekly interview program called GPS. Zakaria interviewed Bill Gates, who stated the main reason why he is optimistic for our economy and the world going forward. What he said echoed a thought of my own, which I have been preaching for the last several months. Zakaria asked Gates, “In an environment like this, can innovation continue? Can productivity rates go up?” Gates replied, “Absolutely. The number of engineers and scientists who come to work is not going to be appreciably diminished. That is, the top 20 universities in the world will not shut down. The R&D labs of the big companies may tune at the margin. But because they know that’s their future, whether it’s Microsoft or any of the other companies, they’re going to keep inventing computer software, genetics, materials, new ways of doing energy. And those are the things that really make me quite optimistic that the level of health and wealth will achieve new records as we go forward over the next 10 years.”

In other words, the very thought that the economies of the great countries of the world such as the U.S., China, India, Brazil, etc. will stop growing vigorously after this current adjustment is completed is plain silly.

I recommend you watch Mr. Zakaria’s Sunday cable show on CNN and I also recommend you read his best-selling books and many articles, as I believe he is one of the brightest minds of our time.

With much regards,

Mike Golub

Disclaimer: All opinions presented in this commentary are strictly those of the Golub Group.  You should not construe any implied or expressed conclusions presented as a promise of future returns.

SAN MATEO OFFICE  1850 Gateway Drive, Suite 600, San Mateo, CA 94404  Phone (650) 212-2240  Fax (650) 212-2249
PASADENA OFFICE   215 N. Marengo Ave., Suite 390, Pasadena, CA 91101  Phone (626) 356-2400  Fax (626) 356-2415