What caused the financial crisis? The Big Lie goes viral.
By Barry Ritholtz,
I have a fairly simple approach to investing: Start with data and
objective evidence to determine the dominant elements driving the market
action right now. Figure out what objective reality is beneath all of
the noise. Use that information to try to make intelligent investing
decisions.
But then, I’m an investor focused on preserving capital and managing risk. I’m not out to win the next election or drive the debate. For those who are, facts and data matter much less than a narrative that supports their interests.
One
group has been especially vocal about shaping a new narrative of the
credit crisis and economic collapse: those whose bad judgment and failed
philosophy helped cause the crisis.
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