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. “
October 26, 2015
Today it is difficult to imagine an active portfolio manager having the aura of a rock star. But in a period of rising interest rates (1945-1982) it did happen and will happen again. After all, who wouldn’t regard someone with respect who could make them money by outperforming the stock market? Today the common ...