STEPHEN CRANSTON: Was it Spock or McCoy that had the illusion of knowledge?
Investment managers often suffer from biases that prevent them from seeing things as they are
I got to know John Mauldin in the early 2000s, when he was a frequent visitor to SA. He was one of the pioneers of investment e-letters, what we now call blogs. And at one Raging Bulls event in Cape Town, where he was the keynote speaker, he predicted the crisis in subordinated mortgages, which became the global financial crisis.
Mauldin gave me a copy of his book, Just One Thing, in which he asked 12 respected thinkers on the investment industry to give the single most useful piece of advice they had learnt. They included his California-based friend, Rob Arnott from Research Affiliates. Maudlin also wrote an an essay on the now somewhat dated topic of “The Millennium Wave”...
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