The Ultimate Signpost

On the Money: “What amazes me more than any spectacle of boom-and-bust is our capacity as a species to witness speculative bubble inflating and bursting – or, to have read about the most notorious case studies, such as Tulipomania or the South Sea Bubble – and yet fail to remember the inevitable outcomes.” -- Ace Greenberg, former CEO of Bear Stearns (from his memoir, The Rise and Fall of Bear Stearns) “It’s a frightening thought, Frank” The ultimate signpost -- that’s what flashed to the world last week. The Federal Reserve completely caved. What does this mean? Is it a good thing? How should we be positioned? Last week I discussed these questions with my partner Steve Ko

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