It’s almost as if stock prices anticipate the future

I know a guy who’s spent the last 25 years or so writing investment columns about how the crowd is always wrong and only he is right. You’ll see. Any minute now. If there is a stock or a sector that’s rallying, it’s an automatic sell in his eyes, because any sign of optimism or enthusiasm is automatically a “bubble” or a “mania” or built on hope and “hope is not a stra...

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