The Future Of Cycles
The tendency of people to go extreme will never end, and neither will cycles.
Emotions magnify the forces that lead to extremes that will eventually require correction. They cause market participants to overlook the cyclicality of cyclical things at just those moments when recognition of excesses is most essential.
Ignoring cycles and extrapolating trends is one of the most dangerous things an investor can do.
Investors with the ability to understand cycles will find opportunities for profit.