Work hard, spend a bit, save a bit, lose a lot. The bear market hits home
I was sitting on a cafe terrace on Ocean Drive, nursing a Long Island iced tea and reflecting on how much South Beach had changed since I first went to Miami a quarter of a century ago. Back then the hotels were run down. So were most of the residents, none of whom seemed to be under 70. They spent their days sitting on dilapidated verandahs playing gin rummy. And they spent their evenings plowing through enormous meals in delis which reminded them of Manhattan. It was, I remember thinking,
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