Alan Alexander Milne, better known as A. A. Milne, was an author and poet from England, who was particularly famous for being the creator of the character Winnie the Pooh. Milne was educated at the University of Cambridge and initially worked as a playwright; however it was as the writer of Winnie the Pooh in 1926 that he became famous. It was followed up by The House at Pooh Corner two year later. Other than that, he was a prolific writer who wrote children’s short story and poetry collections, newspaper columns, plays and had also been a columnist for the popular magazine Punch.
In the world I've known most of my life, old stories quickly lose their power over capital markets and get replaced by new surprises. That which everyone fixates on gets priced into the stock market quickly and can't drag on.
Normally, the market peaks before bad news emerges. That's what happened in 1929, and that's what happened in 2000.
In a bubble, anyone who argues pessimistically is seen as crazy.
When the economies of emerging markets don't just grow but beat expectations, there's scarcely a mention.
The bubble, as investing phenomenon, has been well studied ever since the 17th-century tulip bulb frenzy. Its counterpart in bear markets is not well understood.
My firm has 25,000 high-net-worth clients. A typical account would be that of a couple aged 65 and 60 who need their money to last the rest of their lives, 25 to 35 years.
Global stocks bottomed in June 1921, but global economies didn't hit bottom for fully two more years.
The upward move at the beginning of a bull market is almost always huge compared with the vacillations late in the bear market. If you try to pick a bottom, you will miss a good part of the action.
The stock market is a discounter of all known information.
In history, the evidence is overwhelming: Stock market bottoms happen, and then stocks jolt upwards while the economy keeps getting worse - sometimes by a lot and for a long time.
In the early days, I promoted the idea of spending time in libraries to gain facts that other investors didn't have. Not many people did that kind of research, so it worked.
Originally, I thought Republican. Now I'm an equal opportunity politician-hater.