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What Everyone Knows Isn’t Worth Knowing

Jerry Seinfeld (to George Costanza): “If every instinct you have is wrong, then the opposite would have to be right.” That’s a quote from a famous episode in the Seinfeld TV series where George, the character we all loved to hate, discovers success comes when he does the opposite of what his natural instincts tell him to do.

What’s this got to do with equities, you might ask.

With the stock market nearing all-time highs again, and investors gaga over the growing probability that the Federa...

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