Posted 3/30/2015 05:33 (#4485786 - in reply to #4485565) Subject: RE: Everyone is a Great Investor when your winners ride and Joe Public Bails out Your Losers
Robert H. Hemphill was at the Fed (Credit Manager) in 1935, that's 80 years ago. It would appear to me, with the benefit of a lot of hindsight, that perhaps the situation then was not as tragically absurd or hopeless as he might have imagined.
Warren Buffett, Rail, and Oil
