Some believe that our investment IQ goes up at the same pace as our favorite index. Humorous, but all too often true. That is until the index goes into freefall, and we quickly realize the risks we were taking, and, perhaps, just how softheaded towards markets we can sometimes be. Risk emerges when not knowing what we’re doing but thinking that we do. Fiat (paper) money is a miracle of the human political economy. A government takes a piece of paper, puts its seal on it, and declares it legal tender for all debts, public and private. It is used […]
-Read MorePatrick J. Kelly: Grading Our Investment IQ
- Patrick J. Kelly
- 3 Jun 2025
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