Extraordinary Popular Delusions and the Madness of Crowds [View article]
The 'house edge' for society of any stripe is inflation. Job number one to survive, if not prosper, is to at least pace inflation. Unfortunately, even that modest aspiration entails risk.
Don't buy unless you are willing to be a long term holder. In these times that motivation is best served by hefty and safe dividends. They're plenty of those right now. Unfortunately, even though fear can now be somewhat allayed by gross undervaluation, liquidity is constrained. I'm resisting, so far, going long on leverage. But I'm a greedy B-.
Extraordinary Popular Delusions and the Madness of Crowds [View article]
Trying to Catch a Falling Dollar [View article]