Is It Really “Different This Time?” “Value investors have bored momentum investors for decades by trotting out the axiom that the four most dangerous words are, “This time is different.” For 2017 I would like, however, to add to this warning: ‘Conversely, it can be very dangerous indeed to assume that things are never different.'”...Read More
From “Reinvesting When Terrified” to Investing Purgatory Investing expert Jeremy Grantham’s market calls have a funny way of being vindicated. In the 1990’s, he was early to sound the alarm about frothy tech and internet stocks. Too early. As a result, Grantham’s money management firm, GMO, hemorrhaged billions in investor withdrawals. What happened next? All the...Read More
A Brit With Backbone “I would put a requirement for backbone ï¬rst along with the ability to think for yourself and stand ï¬rm. We have little to lose by taking a different course, and much to gain. “Relevant experience” is difficult to appraise in dealing with a Fed boss, and previous proven excellence has anyway not...Read More
