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.
March 16, 2018
The other day, I was sitting in a restaurant with a friend watching a basketball game. My friend is also in the investment business. The game must have become boring because we started talking about the business. The change of topic caused my sub-conscious to activate. I found myself saying, “Geoff, it has always bothered me how the...