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.
September 15, 2010
In this edition of Frank Thoughts, Frank reflects back to the mid-1960s and the key lessons on investing he learned from former Fidelity Magellan fund manager Pete Lawson.
ROBERT F. “PETE” LAWSON
KLM 21 … KLM 1/8 … KLM ¼ … KLM 1/2 kept flashing overhead on the electronic tape. Seemingly KLM Royal Dutch Airlines...