The maverick Andrew Lo, a professor of finance at the Sloan School of
Management at MIT, summed up the lure of technical analysis in lyric
terms in an interview he gave to Traders.com's "Technical Analysis of
Stocks and Commodities", quoted by Arthur Hill in Stockcharts.com:
"The more creativity you bring to the investment process, the more
rewarding it will be. The only way to maintain ongoing success,
however, is to constantly innovate. That's much the same in all
endeavors. The only way to continue making money, to continue growing
and keeping your profit margins healthy, is to constantly come up with
new ideas."
The Merits of Inflation
By: Dr. Sam Vaknin
Also published by United Press International (UPI)
In a series of speeches designed to defend his record, Alan Greenspan,
until recently an icon of both the new economy and stock exchange
effervescence, reiterated the orthodoxy of central banking everywhere.
His job, he repeated disingenuously, was confined to taming prices and
ensuring monetary stability. He could not and, indeed, would not second
guess the market. He consistently sidestepped the thorny issues of just
how destabilizing to the economy the bursting of asset bubbles is and
how his policies may have contributed to the froth.
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