Major market cycles have a life of their own, like the ups and downs of a manic depressive patient. The choruses sung at each stage are not based on objective data. They are just rationalizations.
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When to Sell, or How to Boil a Frog
The investor’s first concern must be to survive; that is, not to lose a lot of money. I mean in real terms, not quotational terms. The market rises and sets all the time. Don’t worry too much about that. So does the sun. Truly losing money is when an asset you own falls apart. That’s […]
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Going Into Wall Street
I am frequently asked about the best background for the investment business. To start with, I am quite sure what isn’t: majoring in economics, and then entering Wall Street.
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