GMO: The late Cycle Lament: The Dual Economy, Minsky Moments, and other Concerns


GMO: The late Cycle Lament: The Dual Economy, Minsky Moments, and other Concerns

By James Montier

Overoptimism and overconfidence are two well-known psychological traits of our species. They are particularly dangerous in the late stages of an economic cycle where these terrible twins result in investors overestimating return and underestimating risk – a potentially lethal combination of errors.

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