Despite the repeated occurrence of economic cycles, we consistently fail to recognize the creation of asset bubbles, irrational prices, and the inevitable end of cycles. It seems that the most important lesson history has taught us is that we are incapable of learning from history and are therefore destined to repeat the same mistakes.
BCAM has learned that from these cycles comes great opportunity. Recognizing the opportunities created from the change brought fourth by the end of these cycles is a feat accomplished by a small number of wise inves- tors. The emotion driven bubbles that form tend to create exacerbated prices and the emotion driven downturn in cycles tend to create undervalued assets. The recent recession has created a once in a lifetime opportunity. The gravity of past economic declines has determined the strength and potential for opportunity. Thus we have recognized the immense opportunity that currently lies before us.
The Great Depression 1929-1938.
The Great Depression was among the most severe financial disasters in history. The Great Depression was brought about by a severe collapse in stock-market prices in the New York Stock Exchange (NYSE). » READ MORE
