http://www.nytimes.com/2008/10/17/opinion/17buffett.html?_r=1&scp=3&sq=buffett&st=cse
He basically says that it has gone up before in the face of so much turmoil (including WWII) so it will continue to do so in the future. First, this is a classic case of the fallacy of historical inevitability. Second, WWII is what actually caused the bull market in the 1950.
Is the Oracle getting a bit senile?
He basically says that it has gone up before in the face of so much turmoil (including WWII) so it will continue to do so in the future. First, this is a classic case of the fallacy of historical inevitability. Second, WWII is what actually caused the bull market in the 1950.
Is the Oracle getting a bit senile?
