I read this piece several weeks ago when it was first published. Having just reread the article, I decided to get out of my chair for a moment, figure out how to start a new thread, and post this wonderful commentary by James Grant. For my money, no one matches Mr. Grant for concise analysis and clever turns of phrase. He's no populist, yet he skewers Wall Street for its recent incompetence and blind greed, and asks why America does not seem to share his outrage. For those so inclined, enjoy the read!
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Join Date: Aug 2006
Perhaps because most folks think that Wall Street is a mystical place where a bunch of traders dressed as sorcerers wave magic wands and mumble incantations over pots of boiling herbs and things.
If they knew how clueless a lot of the "gurus" were, they would freak. Bottom line, if you're trusting the "experts" on CNBC to make investment decisions for you, might as well dial up an equity index annuity and really get in the game...........
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
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