“Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend, and step off before it is...

Ok, markets can remain irrational longer than you can stay solvent and all that stuff… and that’s why we are on the sidelines and haven’t had the energy to look through any stock picks… As we have repetedly said, at this moment, we feel that...