Sunday, March 02, 2008

Financial Hindsight

How a Bubble Stayed Under the Radar - New York Times:
"I’d come to realize that we’d never be able to identify irrational exuberance with certainty, much less act on it, until after the fact.”
That is why investing is very difficult. When is it a bubble and when is it a good investment? If Greenspan cannot tell, how can JimVAT?

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