DISCIPLINED VALUE-CONSCIOUS HISTORICALLY INFORMED RISK-MANAGED FOCUSED ON THE COMPLETE MARKET CYCLE
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The reason that delusions are so hard to fight with logic is that delusions themselves are established through the exercise of logic. Responsibility for delusions is more likely to be found in distorted perception or inadequate information.
The hallmark of an economic Ponzi scheme is that the operation of the economy relies on the constant creation of low-grade debt in order to finance consumption and income shortfalls among some members of the economy, using the massive surpluses earned by other members of the economy. The factors most responsible for…