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.
June 16, 2016
The investment world is experiencing something it has never seen before … a “rolling” bear market. Sector by sector, industry by industry, the market has been declining for a year and a half. Yet, overall the market has not declined! It is a situation that has confused everyone.
The energy and consumer discretionary...