Jason Zweig writes the following in “The Devil’s Financial Dictionary”:
Wall Street suffers from many ailments also, but amnesia is foremost among them. By burying the past, the financial community can disavow any responsibility to learn from its own mistakes and can minimise the odds that its clients will be able to learn from other people’s mistakes.
In the above paragraph, “Wall Street” is representative of investors at large. That is exactly why in the “Introduction” chapter of the book I have written the following words:
Our memory is short-lived. I would strongly suggest you keep reading this book every year to keep your memory refreshed. (That is why we are printing this book in hardbound format).
#RidingTheRollerCoaster – 253