Do we have the capability to eliminate booms and busts in economic activity? The answer in my judgment is no, because there is no tool to change human nature. Too often people are prone to recurring bouts of optimism and pessimism.
February 17, 2010
Today we share with you yet another edition of "Frank Thoughts". In this edition, Frank recalls back to his days as an analyst at Lehman Brothers in the early 1980's when he covered K-Mart stock. At the time, discount retail stocks were out of favor but came storming back to perform exceptionally well during the ensuing bull market. ...