the incurable current optimism of investors in U.S. markets

TO BE NOTED:

"Are U.S. Investors Pathologically Optimistic?

By Paul Kedrosky · Friday, May 8, 2009 · ShareThis

A typically incisive and interesting bit of commentary from Frank Veneroso on the incurable current optimism of investors in U.S. markets:

Me:

What would a pessimistic market economy look like? When I helped start a business during a recession, most people told us that our business would fail quickly. It lasted 25 years. I can't imagine starting that business without optimism.