The real world is plagued by misbehavior, bad luck, emotion, recessions, deception, inaccurate forecasts, chance, turmoil and mistakes. When these unfortunate events occur, stocks that were erroneously priced for perfection and guaranteed returns—think dot-com stocks in 2000—get a rude awakening and abruptly decline, if not crash. The paradox of investing is that if markets never […]

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