It is ludicrous to believe that asset bubbles can only be recognized in hindsight,” he wrote. “There are specific identifiers that are entirely recognizable during the bubble’s inflation. One hallmark of mania is the rapid rise in the incidence...
What are the odds that people will make smart decisions about money if they don’t need to make smart decisions—if they can get rich making dumb decisions?
the lesson of Buffett was: To succeed in a spectacular fashion you had to be spectacularly unusual.
