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.
November 18, 2015
The investment world offers a choice between two different investment approaches. However, one has to be aware of what the choices are. Each has a time when it is the appropriate style. The first is a “top down” process based on macro events. It is the process virtually every professional money manager uses. The second is micro. Micro...