So long as predictions remain popular, and are so numerous as they are today – and so long as they receive notoriety through repetition in the press and on the radio – contrary opinions will increase in importance as thinking aids. “
January 18, 2011
It was late 1997 and a roaring bull market; close to the very apex of the Internet bubble. Strangely, most portfolio managers were not beating the S&P 500 benchmark. Lost in thought about this, I reached for my ringing telephone. It was Roland Grimm asking if I were free for lunch. That’s like Peter Lynch calling for...