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Bubbles (Short Prognisticators…Nobody Effing Knows)
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Bubbles (Short Prognisticators…Nobody Effing Knows)

Jul 09, 2018
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Bubbles (Short Prognisticators…Nobody Effing Knows)
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This Morgan Housel piece talks about the psychology of bubbles. Good investors understand fundamentals but also have a sense for which direction the wind is blowing. This bit resonated:

Lehman Brothers was in great shape on September 10th, 2008. That’s what the statistics said, anyway.

Its Tier 1 capital ratio – a measure a bank’s ability to endure loss –…

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