Market Prices Are Always Wrong.

Who Most Benefits From Keeping Marijuana Illegal? The Greatest Beneficiaries Are The Major Criminal Organizations In Mexico And Elsewhere That Earn Billions Of Dollars Annually From This Illicit Trade - And Who Would Rapidly Lose Their Competitive Advantage If Marijuana Were A Legal Commodity.

This Is The Joint Responsibility Of Everyone Who Was Involved In The Introduction Of The Euro Without Understanding The Consequences. When The Euro Was Introduced, The Regulators Allowed Banks To Buy Unlimited Amounts Of Government Bonds Without Setting Aside Any Equity Capital. And The European Central Bank Discounted All Government Bonds On Equal Terms. So Commercial Banks Found It Advantageous To Accumulate The Bonds Of The Weaker Countries To Earn A Few Extra Basis Points.

I Rely A Great Deal On Animal Instincts.

The Global Crisis Is Caused By Pathologies Inherent In The Global Financial System Itself.

The Trouble With Institutional Investors Is That Their Performance Is Usually Measured Relative To Their Peer Group And Not By An Absolute Yardstick. This Makes Them Trend Followers By Definition.