• In 1993, the Dow was at last equal to its inflation-adjusted level at the peak of the market in 1929. Sixty-four years was a long, long time waiting to get even.
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Psychologists will have none of this economic claptrap. Two in particular—Daniel Kahneman and Amos Tversky—blasted economists’ views about how investors behave and in the process are credited with fathering a whole new economic discipline, called behavioral finance.
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