Saturday, January 12, 2013
The two extremes!
The significance of all this is the opportunity it offers to those who recognize what is happening and see the implications. At one extreme of the pendulum— the darkest of times— it takes analytical ability, objectivity, resolve, even imagination, to think things will ever get better. The few people who possess those qualities can make unusual profits with low risk. But at the other extreme, when everyone assumes and prices in the impossible— improvement forever— the stage is set for painful losses.
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