raytayzmd

Ben Graham Had It Right

...."Hence the typical investment hazard is roughly similar to the conflagration or epidemic hazard, which is the exceptional and incalculable factor in fire or life insurance."...oh, amen!...I say it again: AMEN!!..."incalculable... should be branded on every the butt of every "quant"...greed and fear are just about the only common factors in economic cycles...at their extremes they both propel people toward decisions based on delusion rather than fact...and we are a long way away from being able to model human behavior.