We can expect that the crowd will probably be wrong. Or as Fred C. Kelly put it more emphatically: “The crowd always loses because the crowd is always wrong. It is wrong because it behaves normally.” Kelly wrote this in a little 1930 book titled Why You Win or Lose: the Psychology of Speculation. We’ll see what Kelly meant below.
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Stock Picks From the Vancouver Conference
“President Obama said he would’ve fired Lloyd Blankfein, the head of Goldman Sachs, if he worked for the White House… Unfortunately, the White House works for Goldman Sachs.â€� – from my presentation at the Agora Financial Investment Symposium.
I’m back from the Agora Financial Investment Symposium in Vancouver. As usual, this great event offered a diverse mix of ideas. Doom seemed to prevail often enough, with many speakers calling for a healthy drop in the stock market and challenging economic times ahead. Even so, there was plenty of enthusiasm for certain ideas. More about which, below…
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