Ability to remain irrational longer than ability to remain solvent

John Hempton at Bronte Capital writes another high-quality piece about how having superior information doesn’t necessarily translate into stock market returns. It is just like people that shorted the stock market in 1999 because of insanely high valuations (or shorting Amazon in 2009 at $100/share!) – even though they might be correct, the market can … Continue reading Ability to remain irrational longer than ability to remain solvent