At least four times per year, security prices are more a function of institutional marketing practices than they are a reflection of the economic forces that we would like to think are their primary determining factors. Do you remember the “Circle of Gold” chain letter from the seventies?
Investment Scandals & Scams: What’s Next!
With every new Scandal, a voracious Media and a hypocritical Congress exacerbate the fear of shocked investors and call for more regulation of the very entities whose success, freedom, viability, and competitiveness they should be nurturing. Ironically, politicians are always the most outspoken critics… probably because of their familiarity with cover-ups and improprieties.