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.
April 25, 2012
Today we share with you an excerpt from our Q1 letter to investors, recapping the first quarter and providing some insight to our current market thinking for Q2 and beyond.
The equity markets continued their winning ways in the 1st quarter as all major indices pushed higher during the period. In fact, this was the...