Ben McKenzie
👤 SpeakerAppearances Over Time
Podcast Appearances
The manias can last a really long time.
I mean, Robert Shiller was really influential to me, Nobel Prize winning economist, behavioral economist, talks about how these manias can last a very, very long time.
I mean, Bernie Madoff ran a Ponzi scheme for decades.
So yeah, it's just we're weird people.
And the market can stay rational longer than you can remain solvent.
He's a great example, too, because, you know, brilliant economist was so ahead of his time in terms of understanding the capabilities of economics beyond.
This sort of artificial constraints that have been imposed by sort of gold bugs and people that want to stick to the gold standard, things like that.
But at the same time, was trading, right?
Was actively investing and lost many times.
And ultimately, I think, was successful.