We Can Speak Of The

Once A Trend Is Established It Tends To Persist And To Run It’s Full Course.

If The Bubbles Contain A Misconception, As They Always Do, Then It Can't Be Maintained Forever.

Start By Assuming The Market Is Always Wrong, So If You Copy Everybody Else On Wall Street, You're Doomed To Do Poorly.

I Don't Use My Money To Gain Political Influence For My Private Interests, Which Is What Many Rich People Do, And What, In A Sense, Market Fundamentalism Does, Because It Is In The Interests Of People Who Have A Lot Of Money To Have As Little Taxes As Possible.

I Would Be Lying, However, If I Claimed That I Could Always Formulate Worthwhile Hypotheses On The Basis Of My Theoretical Framework. Sometimes There Were No Reflexive Processes To Be Found; Sometimes I Failed To Find Them; And, What Was The Most Painful Of All, Sometimes I Got Them Wrong. One Way Or Another, I Often Invested Without A Worthwhile Hypothesis And My Activities Were Not Very Different From A Random Walk.