Credit is money of the mind.
It's about bums on seats. If nobody wants to listen to what you are doing, it kind of defeats the purpose really, doesn't it?
Successful investing is about having people agree with you ... later.
I believe that there is an important kernel of truth in the idea that financial errors recur every other generation.
Progress is cumulative in science and engineering, but cyclical in finance.
Hope sustains life, but misplaced hope prolongs recessions.