Burton Malkiel, economist and author of the book, “A Random Walk Down Wall Street,” once said that:
“Stupidity well packaged can sound like wisdom.”
I think he was onto something. The NIFTY FIFTY, the NEW ECONOMY, and Wall Street models that factored in real estate prices never declining are just a few examples of well-packaged stupidity. It is important to not let ourselves get “caught up” in the euphoria of the times, doing so will be detrimental to our current and future financial position.
