Skepticism Rewarded: Ten Years of Jim Grant Distilled

Mr. Market Miscalculates: The Bubble Years and Beyond
James Grant

True believers aside, it’s hard to imagine that anyone is an unbridled enthusiast for the machinations of Wall Street over the last decade or so. Yet we find ourselves in an era when the ‘wisdom of crowds’ is trumpeted as being the next great saving insight. (We’ll get to that subject another day. Suffice it to say at this point that I find it a dubious concept at best.) But Wall Street does enshrine one concept that the rest of the business world does not Continue reading