Aug. 2003 – Brother, Can You Paradigm?
Remember the late 1990s, when we were entering a “new economy” guided by a “new paradigm”? Business cycles were said to be repealed, information technology would expand productivity exponentially, and of course traditional valuations for common stocks (price/earnings and price/book ratios, dividend yield) were obsolete. The party has ended, of course, and though the investing […]
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