Gyroscopic Investing

Imagine you are docilely going through the long security line at John F. Kennedy International Airport, headed for your overnight flight to London Heathrow. As your carry-on bag goes through the X-ray, a burly TSA agent is called over to confer with the machine operator. He then looks at you and says: "Please come with me, sir."

As you are led to a small cubicle, you nervously try to think of what you might have done wrong. While you open your bag as instructed, the stern-faced TSA agent points to a small package and demands to know what it contains. Inside are antique, collectible gold coins that you intend to sell to the same British dealer from whom you bought them years ago, but now they are worth much more.

Now the agent says: "I'm sorry, sir, I will have to confiscate them, but I will give you a receipt. You have the right to file an appeal."

You stand there dumbfounded, the whole purpose of your journey destroyed.