Economics Never Was A Dismal Science. It

Perhaps There Really Are Managers Who Can Outperform The Market Consistently - Logic Would Suggest That They Exist. But They Are Remarkably Well-hidden.

An American Economist Of Two Generations Ago, H. J. Davenport, Who Was The Best Friend Thorstein Veblen Ever Had (veblen Actually Lived For A Time In Davenport's Coal Cellar) Once Said: "there Is No Reason Why Theoretical Economics Should Be A Monopoly Of The Reactionaries." All My Life I Have Tried To Take This Warning To Heart, And I Dare Call It To Your Favorable Attention.

Companies Are Not Charitable Enterprises: They Hire Workers To Make Profits. In The United States, This Logic Still Works. In Europe, It Hardly Does.

Good Questions Outrank Easy Answers.

It Is Not Easy To Get Rich In Las Vegas, At Churchill Downs, Or At The Local Merrill Lynch Office.