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The Great Con

(or A View from the Pit We Have Dug for Ourselves) No so long ago: ▪ Owners managed their own small businesses (some of which grew very large);▪ Then in pursuit of more capital (translating to more power, influence, prestige, capacity, market share, etc.) some owners came to share ownership with total strangers via corporate …

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Twelve Truths My Economist Never Told Me

~SMS~1. Markets are rational—except when more frequently, they are not. 2. Moral hazard is to leverage your leverage. 3. There are stock puffers & stock prickers—and therein lies the grub. 4. Efficient Market Hypothesis is a congenital myth—somewhat like Santa Claus.[1] 5. Oversupply and under-demand are the norm—except when less frequently, they are not. 6. …

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